INDIAN OVERSEAS BANK Plunges by 6%; BSE BANKEX Index Flat

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INDIAN OVERSEAS BANK Plunges by 6%; BSE BANKEX Index Flat
Wed, 15 May 02:34 PM

INDIAN OVERSEAS BANK share price has plunged 6% and is presently trading at Rs 13.

Meanwhile, the BSE BANKEX Index is at 32,408 .

Among the top losers in the BSE BANKEX Index today are INDIAN OVERSEAS BANK (down 5.7%) and YES BANK (down 6.6%).

KOTAK MAHINDRA BANK (up 1.2%) and HDFC BANK (up 0.4%) are among the top gainers today.

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 17 to Rs 13, registering a loss of Rs 4 (down 24.1%)..

The BSE BANKEX has moved up from 29,739 to 32,408, registering a gain of 2,669 points (up 9.0%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 31.8%), SBI (up 24.4%) and ICICI BANK (up 22.7%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 37,560 (up 0.4%). The top gainers among the BSE Sensex stocks today are BAJAJ FINANCE (up 4.6%). The most traded stocks in the BSE Sensex are SBI and VEDANTA LTD.

In the meantime, NSE Nifty is at 11,287 . BAJAJ FINANCE (up 4.3%) and EICHER MOTOR (up 3.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,557 to 37,560, registering a gain of 2,003 points (up 5.3%).

INDIAN OVERSEAS BANK Financial Update...

INDIAN OVERSEAS BANK net profit down at Rs 20 billion for the quarter ended March 2019, compared to a loss of Rs 3 billion a year ago. Operating income rose 0.3% to Rs 45.6 billion during the period as against Rs 45.4 billion in January-March 2018.

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 1.6x.



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