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INDIAN OVERSEAS BANK Surges by 5%; BSE BANKEX Index Up 0.7%

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INDIAN OVERSEAS BANK Surges by 5%; BSE BANKEX Index Up 0.7%
Mon, 11 Mar 02:26 PM

INDIAN OVERSEAS BANK share price has zoomed 5% and is presently trading at Rs 15.

Meanwhile, the BSE BANKEX Index is at 31,433 (up 0.7%).

Among the top Gainers in the BSE BANKEX Index today is INDIAN OVERSEAS BANK (up 5.2%).

AXIS BANK (down 0.1%) and INDUSIND BANK (down 0.7%) are among the top losers today.

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 18 to Rs 15, registering a loss of Rs 3 (down 15.1%).

On the other hand, the BSE BANKEX has moved up from 27,560 to 31,433, registering a gain of 3,873 points (up 13.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 40.7%), ICICI BANK (up 26.4%) and HDFC BANK (up 15.3%).

What About the Benchmark Indices?

The BSE Sensex is at 37,045 (up 0.9%).

The top gainers among the BSE Sensex stocks today are BHARTI AIRTEL (up 5.0%), POWER GRID (up 4.2%) and COAL INDIA (up 3.9%). Other gainers include NTPC (up 3.2%) and VEDANTA LTD (up 3.1%). The most traded stocks in the BSE Sensex are YES BANK and ICICI BANK.

In the meantime, NSE Nifty is at 11,169 (up 1.1%). BHARTI AIRTEL (up 5.7%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,352 to 37,045, registering a gain of 3,693 points (up 10.9%).

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 1.4x.

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