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Shares of ING Vysya Bank today surged over 10 per cent in morning trade on the BSE after the lender reported 32 per cent jump in net profit during 2010-11.
Boosted by strong numbers, the scrip of the private sector lender spurted by 10.68 per cent to touch a month’s high of Rs 371.40 on BSE.
The stock attracted buyers on the National Stock Exchange as well where it shot up by 10.39 per cent to a high of Rs 371.85.
On the volume front, over 14 lakh shares changed hands on the bourses in the morning session.
ING Vysya Bank had reported a net profit of Rs 318.7 crore during the 2010-11, a 32 per cent jump over the year-ago period.
During the fourth quarter, net profit was up by 34 per cent to Rs 91.3 crore.
The Board of Directors has proposed a dividend of 30 per cent i.e. Rs 3/equity share of Rs 10 each for the year ended March 31, 2011, which is subject to the approval of shareholders.
Value buying was also seen at the counters of other major banks, SBI was trading higher by 1.01 per cent, HDFC Bank rose by 1.49 per cent and ICICI Bank was up by 0.33 per cent.
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