Stocks

Bank of Maharashtra shares gain over 7% on Q2 earnings

Internet Desk | Updated on October 19, 2020

The public sector Bank of Maharashtra on Monday announced its second-quarter earnings registering a net profit of 14 per cent to ₹130 crore.

The bank has reduced gross NPA to 8.81 per cent from 10.93 per cent reported in the previous quarter while the net NPA stood at 3.3 per cent from 4.1 per cent registered in the last quarter.

With rising investor participation, the delivery volume has increased by 9.68 per cent against the 5-day average.

The stock has been gaining for the last two days and has given 8.16 per cent returns in the period.

The stock has outperformed its sector by 3.29 per cent, and it is currently trading at ₹11.96 apiece, up 7.46 per cent.

Published on October 19, 2020

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