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IOB shines on the bourses

24 Nov 2020 Evaluate

Indian Overseas Bank is currently trading at Rs. 10.21, up by 0.41 points or 4.18% from its previous closing of Rs. 9.80 on the BSE.

The scrip opened at Rs. 9.90 and has touched a high and low of Rs. 10.28 and Rs. 9.64 respectively. So far 1397501 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 13.83 on 29-Jun-2020 and a 52 week low of Rs. 6.17 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 10.47 and Rs. 9.34 respectively. The current market cap of the company is Rs. 16765.73 crore.

The promoters holding in the company stood at 95.84%, while Institutions and Non-Institutions held 1.63% and 2.53% respectively.

Indian Overseas Bank (IOB) is expecting resolution of about Rs 18,000 crore of non-performing assets (NPAs) under the insolvency and bankruptcy process during the second half of the current fiscal, a move that will boost its bottomline. On the back of resolution and pick up in advances, the bank aims to bring down the gross NPAs below 10 per cent mark by March.

During the second quarter, the bank registered a substantial improvement in asset quality as gross non-performing assets (NPAs) plunged to 13.04 per cent of gross advances from 20 per cent at the end of September 2019. In value terms, gross NPAs or bad loans fell to Rs 17,659.63 crore as against Rs 28,673.95 crore a year ago. Net NPAs reduced to 4.30 per cent (Rs 5,290.60 crore) from 9.84 per cent (Rs 12,507.97 crore) a year ago.

Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.

Indian Overseas Bank Share Price

34.97 0.03 (0.09%)
17-Apr-2026 16:59 View Price Chart
Peers
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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