Sensex, Nifty trade higher; ONGC gains 4%; Q2 nos lift Indian Bank 7%

Epic Update Indian BankEpic Update Indian Bank

Equity benchmarks turned positive amid consolidation in afternoon, backed by auto, banking & financials stocks and ONGC that rallied 4 percent.

The 30-share BSE Sensex was up 40.19 points at 33,725.75 and the 50-share NSE Nifty rose 1.40 points to 10,453.90.

About 1,430 shares advanced against 1,123 declining shares on the BSE.

 Indian Bank share price gained more than 7 percent after its profit in Q2 increased 11.4 percent year-on-year to Rs 451.54 crore from Rs 405.13 crore YoY.

Net interest income grew by 20.8 percent to Rs 1,543.66 crore from Rs 1,278.25 crore YoY.

Provisioning coverage ratio improved to 65.4 percent for the quarter, compared with 61.7 percent in previous quarter.

At 12:30 hours IST, the stock price was quoting at Rs 367.00, up Rs 19.80, or 5.70 percent on the BSE.

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