INDIAN OVERSEAS BANK Surges by 9%; BSE BANKEX Index Down 0.4%

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INDIAN OVERSEAS BANK Surges by 9%; BSE BANKEX Index Down 0.4%
Tue, 18 Feb 09:22 AM

INDIAN OVERSEAS BANK share price has zoomed 9% and is presently trading at Rs 10.

Meanwhile, the BSE BANKEX Index is at 35,225 (down 0.4%).

Among the top Gainers in the BSE BANKEX Index today is INDIAN OVERSEAS BANK (up 9.2%).

HDFC BANK (down 0.2%) and ICICI BANK (down 0.3%) are among the top losers today.

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 12 to Rs 10, registering a loss of Rs 2 (down 17.6%).

On the other hand, the BSE BANKEX has moved up from 29,817 to 35,225, registering a gain of 5,408 points (up 17.7%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 59.5%), KOTAK MAHINDRA BANK (up 31.4%) and CITY UNION BANK (up 23.1%).

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What About the Benchmark Indices?

The BSE Sensex is at 41,042 (down 0.4%).

The top gainers among the BSE Sensex stocks today are SBI (up 0.4%) and TCS . The most traded stocks in the BSE Sensex are SBI and TCS.

In the meantime, NSE Nifty is at 12,031 (down 0.4%). ZEE ENTERTAINMENT (up 1.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,498 to 41,042, registering a gain of 5,544 points (up 15.2%).

INDIAN OVERSEAS BANK Financial Update...

INDIAN OVERSEAS BANK net profit down at Rs 61 billion for the quarter ended December 2019, compared to a loss of Rs 3 billion a year ago. Operating income declined 4.2% to Rs 43.5 billion during the period as against Rs 45.4 billion in October-December 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 0.9x.



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