INDIAN OVERSEAS BANK Plunges by 6%; BSE BANKEX Index Up 1.4%

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INDIAN OVERSEAS BANK Plunges by 6%; BSE BANKEX Index Up 1.4%
Fri, 15 Mar 03:18 PM

INDIAN OVERSEAS BANK share price has plunged 6% and is presently trading at Rs 15.

Meanwhile, the BSE BANKEX Index is at 33,098 (up 1.4%).

Among the top losers in the BSE BANKEX Index today is INDIAN OVERSEAS BANK (down 5.5%).

KOTAK MAHINDRA BANK (up 4.4%) and SBI (up 2.1%) are among the top gainers today.

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 18 to Rs 15, registering a loss of Rs 4 (down 19.6%)..

The BSE BANKEX has moved up from 28,061 to 33,098, registering a gain of 5,037 points (up 18.0%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 37.0%), ICICI BANK (up 28.8%) and KOTAK MAHINDRA BANK (up 22.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,255 (up 0.5%). The top gainers among the BSE Sensex stocks today are ONGC (up 3.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 11,487 (up 0.6%). IOC (up 5.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,836 to 38,255, registering a gain of 4,419 points (up 12.2%).

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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