Allahabad Bank, the public sector lender, witnessed a sharp rise in share price on Wednesday after reporting a strong first quarter results. The bank reported a rise of 30.29% in net profit to Rs 1.46 billion for the quarter ended Jun. 30, 2015 as compared to Rs 1.12 billion in the same period last year.
 
Total income decreased by 2.20% to Rs 53.96 billion for the quarter ended Jun. 30, 2015 as compared to Rs 55.18 billion in the same period last year.

Shares of Allahabad Bank are trading at Rs 87.50, up Rs 4.15, or 4.98% at the Bombay Stock Exchange (BSE) on Wednesday at 1:55 p.m.

The scrip has touched an intra-day high of Rs 89.30 and low of Rs 81.15. The total volume of shares traded at the BSE is 912,333.