Shares of CSB Bank, on Friday, rallied 16 per cent to a fresh 52-week high of Rs 273.95 on the BSE in an otherwise weak market on the back of heavy volumes. The stock surpassed its previous 52-week high of Rs 270, touched on November 10, 2020. It hit an all-time high level of Rs 314 on December 5, 2019.
At 02:50 pm, CSB Bank was trading 12 per cent higher at Rs 265, against 1.07 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 10-fold with a combined 3.5 million equity shares changing hands on the NSE and BSE.
Fairfax-backed CSB Bank had reported a strong 89 per cent year on year (YoY) jump in net profit at Rs 53.05 crore during the quarter ended December 31, 2020 (Q3FY21) as compared to Rs 28.14 crore during the same period last year.