Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian Overseas Bank Gains 7%; BSE BANKEX Index Up 0.5%
Mon, 29 Jul 9:20

Indian Overseas Bank Gains 7%; BSE BANKEX Index Up 0.5%Image source: Chunumunu/www.istockphoto.com

Indian Overseas Bank share price has zoomed 7% and is presently trading at Rs 68.7.

Meanwhile, the BSE BANKEX index is at 58,936.0 (up 0.5%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 1.6%) and AU SMALL FINANCE BANK (up 1.6%).

IDFC FIRST BANK (down 3.0%) and HDFC Bank (down 0.5%) are among the top losers today.

Over the last one year, Indian Overseas Bank has moved up from Rs 26.1 to Rs 68.7, registering a gain of Rs 42.6 (up 163.0%).

On the other hand, the BSE BANKEX index has moved up from 51,646.9 to 58,936.0, registering a gain of 14.1% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 50.7%), SBI (up 42.2%) and Bank of Baroda (up 29.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,695.1 (up 0.4%).

The top gainers among the BSE Sensex today are NTPC (up 2.0%) and Tata Steel (up 1.4%). The most traded stocks in the BSE Sensex are ICICI Bank and Bharti Airtel.

In the meantime, NSE Nifty is at 24,932.1 (up 0.4%). NTPC and IOC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,355.7 to 81,695.1, registering a gain of 15,339.3 points (up 23.1%).

Indian Overseas Bank Financial Update...

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 46.2.


Equitymaster requests your view! Post a comment on "Indian Overseas Bank Gains 7%; BSE BANKEX Index Up 0.5%". Click here!