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Indian Overseas Bank Gains 3%; BSE BANKEX Index Down 0.3%
Thu, 28 Nov 11:20

Indian Overseas Bank Gains 3%; BSE BANKEX Index Down 0.3%Image source: Chunumunu/www.istockphoto.com

Indian Overseas Bank share price has zoomed 3% and is presently trading at Rs 54.5.

Meanwhile, the BSE BANKEX index is at 59,391.4 (down 0.3%).

Among the top gainers in the BSE BANKEX index today are IDFC FIRST BANK (up 0.4%) and SBI (up 0.4%).

Federal Bank (down 0.8%) and Axis Bank (down 0.7%) are among the top losers today.

Over the last one year, Indian Overseas Bank has moved up from Rs 39.7 to Rs 54.5, registering a gain of Rs 14.8 (up 37.2%).

On the other hand, the BSE BANKEX index has moved up from 49,496.9 to 59,391.4, registering a gain of 20.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 48.3%), Federal Bank (up 40.8%) and ICICI Bank (up 39.7%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,561.5 (down 0.8%).

The top losers among the BSE Sensex today are Infosys (down 2.9%) and Tech Mahindra (down 2.5%). The most traded stocks in the BSE Sensex are MUNDRA PORT & SEZ and Axis Bank.

In the meantime, NSE Nifty is at 24,087.9 (down 0.8%). Infosys and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,174.2 to 79,561.5, registering a gain of 13,387.3 points (up 20.2%).

Indian Overseas Bank Financial Update...

Indian Overseas Bank net profit grew 24.3% YoY to Rs 7,796 million for the quarter ended September 2024, compared to a profit of Rs 6,272 million a year ago. Net sales rose 17.7% to Rs 68,539 million during the period as against Rs 58,249 million in July-September 2023.

For the year ended March 2024, Indian Overseas Bank reported 26.7% increase in net profit to Rs 26,657 million compared to net profit of Rs 21,040 million during FY23. Revenue of the company grew 24.0% to Rs 240,657 million during FY24.

The current Price to earnings ratio of Indian Overseas Bank, based on rolling 12 month earnings, stands at 34.7.


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