INDIAN OVERSEAS BANK Surges by 11%; BSE BANKEX Index Up 0.3%

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INDIAN OVERSEAS BANK Surges by 11%; BSE BANKEX Index Up 0.3%
Thu, 21 Feb 09:20 AM

INDIAN OVERSEAS BANK share price has zoomed 11% and is presently trading at Rs 14.

Meanwhile, the BSE BANKEX Index is at 30,235 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today is INDIAN OVERSEAS BANK (up 10.6%).

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 20 to Rs 14, registering a loss of Rs 6 (down 30.5%).

On the other hand, the BSE BANKEX has moved up from 28,061 to 30,235, registering a gain of 2,174 points (up 7.7%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 32.2%), KOTAK MAH. BANK (up 23.6%) and HDFC BANK (up 13.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 35,837 (up 0.2%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS DVR (up 1.3%), ONGC (up 1.3%) and HERO MOTOCORP (up 1.1%). Other gainers include HDFC BANK (up 1.1%) and VEDANTA LTD (up 1.0%). The most traded stocks in the BSE Sensex are HDFC BANK and HERO MOTOCORP.

In the meantime, NSE Nifty is at 10,747 . ONGC (up 1.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,704 to 35,837, registering a gain of 2,133 points (up 6.3%).

INDIAN OVERSEAS BANK Financial Update...

INDIAN OVERSEAS BANK net profit declined 63.2% YoY to Rs 3 billion for the quarter ended December 2018, compared to a loss of Rs 9 billion a year ago. Operating income rose 6.8% to Rs 45.4 billion during the period as against Rs 42.5 billion in October-December 2017.

For the year ended March 2018, INDIAN OVERSEAS BANK reported 7.9% decrease in net profit to Rs 63.0 billion compared to net profit of Rs 68.4 billion during FY17.

Revenue of the company grew 9.1% to Rs 179 billion during FY18.

The current Price to earnings ratio of INDIAN OVERSEAS BANK, based on rolling 12 month earnings, stands at down 1.3x.



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