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%
Thu, 5 Mar 09:20 AM

INDIAN OVERSEAS BANK share price has zoomed 5% and is presently trading at Rs 9.

Meanwhile, the BSE BANKEX Index is at 33,207 (up 0.7%).

Among the top Gainers in the BSE BANKEX Index today is INDIAN OVERSEAS BANK (up 5.0%).

CITY UNION BANK (down 0.1%) and KOTAK MAHINDRA BANK (down 1.0%) are among the top losers today.

Over the last one year, INDIAN OVERSEAS BANK has moved down from Rs 14 to Rs 9, registering a loss of Rs 5 (down 35.3%).

On the other hand, the BSE BANKEX has moved up from 30,889 to 33,207, registering a gain of 2,318 points (up 7.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 41.3%), KOTAK MAHINDRA BANK (up 29.6%) and CITY UNION BANK (up 16.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,678 (up 0.7%).

The top gainers among the BSE Sensex stocks today are SBI (up 2.3%), TATA STEEL (up 1.9%) and BAJAJ FINANCE (up 1.4%). Other gainers include INDUSIND BANK (up 1.2%) and AXIS BANK (up 1.2%). The most traded stocks in the BSE Sensex are TITAN and NESTLE.

In the meantime, NSE Nifty is at 11,306 (up 0.5%). GAIL (up 3.6%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,443 to 38,678, registering a gain of 2,235 points (up 6.1%).

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 0.8x.

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