Indian Overseas Bank share price has zoomed 4% and is presently trading at Rs 62.4.
Meanwhile, the BSE BANKEX index is at 57,033.7 (up 0.9%).
Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 1.9%) and HDFC Bank (up 1.7%).
Indusind Bank (down 2.3%) and AU SMALL FINANCE BANK (down 0.4%) are among the top losers today.
Over the last one year, Indian Overseas Bank has moved up from Rs 25.9 to Rs 62.4, registering a gain of Rs 36.6 (up 141.4%).
On the other hand, the BSE BANKEX index has moved up from 50,325.8 to 57,033.7, registering a gain of 13.3% during the last 12 months.
The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 44.3%), SBI (up 42.6%) and Bank of Baroda (up 28.8%).
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The BSE Sensex is at 79,468.0 (up 1.1%).
The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 3.5%) and Power Grid Corp. (up 3.2%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.
In the meantime, NSE Nifty is at 24,315.3 (up 1.4%). ONGC and Coal India are among the top gainers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,468.0, registering a gain of 13,514.5 points (up 20.5%).
Indian Overseas Bank net profit grew 28.7% YoY to Rs 6,487 million for the quarter ended June 2024, compared to a profit of Rs 5,040 million a year ago. Net sales rose 20.5% to Rs 65,390 million during the period as against Rs 54,275 million in April-June 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 42.0.
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