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%).
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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 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.
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