INDIAN OVERSEAS BANK Surges by 5%; BSE BANKEX Index Up 0.4%

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Markets will remain closed on 14th April, 2021 on account of Dr. Baba Saheb Ambedkar Jayanti.

INDIAN OVERSEAS BANK Surges by 5%; BSE BANKEX Index Up 0.4%
Wed, 20 Nov 10:20 AM

INDIAN OVERSEAS BANK share price has zoomed 5% and is presently trading at Rs 11.

Meanwhile, the BSE BANKEX Index is at 35,503 (up 0.4%).

Among the top Gainers in the BSE BANKEX Index today is INDIAN OVERSEAS BANK (up 5.3%).

CITY UNION BANK (down 0.1%) and SBI (down 0.1%) are among the top losers today.

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 15 to Rs 11, registering a loss of Rs 4 (down 25.2%).

On the other hand, the BSE BANKEX has moved up from 29,603 to 35,503, registering a gain of 5,900 points (up 19.8%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 37.3%), ICICI BANK (up 36.6%) and CITY UNION BANK (up 29.4%).

Revealed: 3 Stocks for Potentially Massive Gains

What About the Benchmark Indices?

The BSE Sensex is at 40,754 (up 0.7%).

The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 3.9%), RELIANCE IND. (up 3.7%) and L&T (up 1.9%). Other gainers include SUN PHARMA (up 1.7%) and VEDANTA LTD (up 1.3%). The most traded stocks in the BSE Sensex are RELIANCE IND. and VEDANTA LTD.

In the meantime, NSE Nifty is at 12,016 (up 0.6%). INDUSIND BANK (up 4.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,775 to 40,754, registering a gain of 4,979 points (up 13.9%).

INDIAN OVERSEAS BANK Financial Update...

INDIAN OVERSEAS BANK net profit down at Rs 23 billion for the quarter ended September 2019, compared to a loss of Rs 3 billion a year ago. Operating income declined 5.9% to Rs 42.8 billion during the period as against Rs 45.4 billion in July-September 2018.

For the year ended March 2019, INDIAN OVERSEAS BANK reported 40.7% decrease in net profit to Rs 37.4 billion compared to net profit of Rs 63.0 billion during FY18.

Revenue of the company grew 1.6% to Rs 176 billion during FY19.

The current Price to earnings ratio of INDIAN OVERSEAS BANK, based on rolling 12 month earnings, stands at down 2.1x.



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