Indian Overseas Bank share price has zoomed 3% and is presently trading at Rs 54.5.
Meanwhile, the BSE BANKEX index is at 59,391.4 (down 0.3%).
Among the top gainers in the BSE BANKEX index today are IDFC FIRST BANK (up 0.4%) and SBI (up 0.4%).
Federal Bank (down 0.8%) and Axis Bank (down 0.7%) are among the top losers today.
Over the last one year, Indian Overseas Bank has moved up from Rs 39.7 to Rs 54.5, registering a gain of Rs 14.8 (up 37.2%).
On the other hand, the BSE BANKEX index has moved up from 49,496.9 to 59,391.4, registering a gain of 20.0% during the last 12 months.
The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 48.3%), Federal Bank (up 40.8%) and ICICI Bank (up 39.7%).
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The BSE Sensex is at 79,561.5 (down 0.8%).
The top losers among the BSE Sensex today are Infosys (down 2.9%) and Tech Mahindra (down 2.5%). The most traded stocks in the BSE Sensex are MUNDRA PORT & SEZ and Axis Bank.
In the meantime, NSE Nifty is at 24,087.9 (down 0.8%). Infosys and Tech Mahindra are among the top losers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 66,174.2 to 79,561.5, registering a gain of 13,387.3 points (up 20.2%).
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 34.7.
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