Indian Overseas Bank (IOB) is currently trading at Rs. 85.85, up by 0.95 points or 1.12% from its previous closing of Rs. 84.90 on the BSE.
The scrip opened at Rs. 85.80 and has touched a high and low of Rs. 87.00 and Rs. 85.30 respectively. So far 169870 shares were traded on the counter.
The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 89.90 on 06-Jun-2014 and a 52 week low of Rs. 37.15 on 19-Aug-2013.
Last one week high and low of the scrip stood at Rs. 89.90 and Rs. 83.35 respectively. The current market cap of the company is Rs. 10648.70 crore.
The promoters holding in the company stood at 73.80% while Institutions and Non-Institutions held 17.14% and 9.06% respectively.
In a bid to meet Tier I Capital under Basel III norms, Indian Overseas Bank (IOB) has requested the government to provide a capital support of Rs 3,500 crore during the current fiscal. Last fiscal, the government infused Rs 1,200 crore in the bank to enhance its capital base. As a whole, the government infused Rs 14,000 crore in public sector banks during the current financial year ending March 31, 2014.
Besides, the board has also permitted the bank to issue equity shares of Rs 10 each to Qualified Institutional Buyers by way of private placement, up to an extent of not exceeding Rs 1,200 crore out of the shortfall in the Tier I Capital requirement of Rs 3,500 crore assessed by the bank. Further, the company is planning to raise funds via Qualified Institutional Placement (QIP) in next two months.
IOB reported over four fold jump in its net profit at Rs 268.33 crore for the quarter as compared to Rs 58.87 crore for the same quarter in the previous year. Total income of the bank increased 9.79% at Rs 6,475.93 crore for quarter under review, as compared to Rs 5,898.15 crore for the quarter ended March 31, 2013.
| Company Name | CMP |
|---|---|
| SBI | 1080.35 |
| PNB | 114.50 |
| Canara Bank | 142.35 |
| Bank Of Baroda | 280.00 |
| Union Bank Of India | 188.90 |
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