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Indian Overseas Bank Gains 5%; BSE BANKEX Index Down 0.0%
Wed, 23 Oct 11:6

Indian Overseas Bank Gains 5%; BSE BANKEX Index Down 0.0%Image source: Kameleon007 /www.istockphoto.com

Indian Overseas Bank share price has zoomed 5% and is presently trading at Rs 52.3.

Meanwhile, the BSE BANKEX index is at 58,334.6 .

Among the top gainers in the BSE BANKEX index today are HDFC Bank (up 1.5%) and Kotak Bank (up 0.6%).

ICICI Bank (down 1.8%) and IDFC FIRST BANK (down 1.5%) are among the top losers today.

Over the last one year, Indian Overseas Bank has moved up from Rs 37.2 to Rs 52.3, registering a gain of Rs 15.1 (up 40.7%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 58,334.6, registering a gain of 20.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 42.8%), ICICI Bank (up 33.9%) and Federal Bank (up 32.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 80,429.3 (up 0.3%).

The top gainers among the BSE Sensex today are Bajaj Finance (up 5.2%) and Bajaj Finserv (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,587.0 (up 0.5%). Bajaj Finance and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,429.3, registering a gain of 15,857.4 points (up 24.6%).

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 33.4.


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