Meanwhile, the BSE Sensex was up 62.34 points or 0.39% to 16,010.44.

On BSE, 18,000 shares were traded in the counter as against average daily volume of 3.64 lakh shares in the past one quarter.

The stock hit a high of Rs 172.70 and a low of Rs 169.75 so far during the day. The stock had hit a 52-week high of Rs 251.40 on 17 February 2012. The stock had hit a 52-week low of Rs 143.50 on 28 December 2011.

The stock had underperformed the market over the past one month till 23 May 2012, falling 23.24% compared with the Sensex's 6.72% fall. The scrip had also underperformed the market in past one quarter, declining 18.8% as against Sensex's 11.78% decline.

The large-cap state-run lender has equity capital of Rs 987.46 crore. Face value per share is 10.

Rural Electrification Corporation's (REC) net profit rose 9.6% to Rs 2817.03 crore on 23.7% growth in total income to Rs 10509.07 crore in the year ended 31 March 2012 over the year ended 31 March 2011. Consolidated net profit rose 9.8% to Rs 2838.66 crore on 23.7% growth in total income to Rs 10553.62 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

REC's board of directors at a meeting held on Wednesday, 23 May 2012, recommended a final dividend of Rs 2.50 per share for the year ended March 2012.

REC's main objective is to finance and promote rural electrification projects all over the country. The company provides financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them. The Government of India holds 66.8% stake in REC.