Dena Bank capitalises on robust Q4 figures

Dena Bank surged 2.98% to Rs 60.45 at 15:19 IST on BSE after posting 153.40% rise in net profit to Rs 110.99 crore in Q4 March 2008 over Q4 March 2007.

The state-run bank announced the results during trading hours today, 30 April 2008.

On BSE, 33.92 lakh shares were traded in the counter. The scrip had an average daily volume of 7.10 lakh shares in the past one quarter.

The stock hit a high of Rs 63.75 and a low of Rs 58.70 so far during the day. The stock had a 52-week high of Rs 99.55 on 2 January 2008 and a 52-week low of Rs 34.50 on 8 May 2007.

The mid-cap scrip had outperformed the market over the past one month till 29 April 2008, gaining 15.44% compared to the Sensex's return of 11.08%. It had underperformed the market in the past one quarter, declining 16.38% compared to Sensex's decline of 2.14%.

The bank's equity is Rs 286.82 crore. Face value per share is Rs 10.

The current price of Rs 60.45 discounts its Q3 December 2007 annualised EPS of Rs 14.10, by a PE multiple of 4.29.

Dena Bank's total income rose 29.05% to Rs 882.98 crore in Q4 March 2008 over Q4 March 2007.

Dena Bank's principal activity is to provide commercial banking, merchant banking, asset management and other related services.