October 29, 2018 / 7:18 AM / in 8 months

BUZZ-India's Vijaya Bank surges as asset quality improves in Sept qtr

** Vijaya Bank surges as much as much as 10 pct to 44.7 rupees

** State-owned lender’s gross bad loans as a pct of total loans fell to 5.86 pct at end-Sept vs 6.19 pct last qtr, and 7.06 pct last year

** Provisions for bad loans fell 8.6 pct in the qtr to 4.88 bln rupees

** For PSU banks, the main issue is the asset quality, which seems to be coming off for Vijaya Bank and that’s a very big positive, says Yuvraj Choudhary, an analyst at Anand Rathi Securities

** However, profit in Sept qtr fell 24.5 pct, while interest earned rose about 19 pct in the qtr

** Stock posts its biggest intraday pct gain in nearly six weeks

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