Indian Overseas Bank share price has plunged 4% and is presently trading at Rs 53.8.
Meanwhile, the BSE BANKEX index is at 58,446.6 (up 0.1%).
Among the top losers in the BSE BANKEX index today are Federal Bank (down 2.9%) and Bank of Baroda (down 1.6%).
AU SMALL FINANCE BANK (up 1.7%) and ICICI Bank (up 1.5%) are among the top gainers today.
Over the last one year, Indian Overseas Bank has moved up from Rs 48.4 to Rs 53.8, registering a gain of Rs 5.4 (up 11.1%).
On the other hand, the BSE BANKEX index has moved up from 50,007.8 to 58,446.6, registering a gain of 16.9% during the last 12 months.
The top gainers among the BSE BANKEX index stocks during this same period were ICICI Bank (up 33.7%), SBI (up 31.5%) and Federal Bank (up 24.9%).
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The BSE Sensex is at 81,700.6 .
The top gainers among the BSE Sensex today are ITC (up 1.7%) and ICICI Bank (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.
In the meantime, NSE Nifty is at 24,900.2 (down 0.5%). MUNDRA PORT & SEZ and ONGC are among the top losers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,700.6, registering a gain of 16,188.5 points (up 24.7%).
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 36.2.
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