Indian Bank gains on getting nod to divest stake in ASREC India

08 Mar 2021 Evaluate

Indian Bank is currently trading at Rs. 140.00, up by 0.85 points or 0.61% from its previous closing of Rs. 139.15 on the BSE.

The scrip opened at Rs. 142.30 and has touched a high and low of Rs. 143.95 and Rs. 139.35 respectively. So far 179218 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 156.90 on 18-Feb-2021 and a 52 week low of Rs. 41.70 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 143.00 and Rs. 136.15 respectively. The current market cap of the company is Rs. 15811.13 crore.

The promoters holding in the company stood at 88.06%, while Institutions and Non-Institutions held 5.28% and 6.66% respectively.

Indian Bank’s board has accorded in-principle approval for partial/full divestment of the bank's stake in joint venture ASREC (India), as part of the monetisation of the bank's non-core assets. The bank holds a 38.26 percent stake in ASREC (India). ASREC is an asset reconstruction company in which Bank of India, Union Bank of India, LIC and Deutsche Bank are the shareholders. The board of directors of the bank in its meeting held on March 5, 2021, accorded in-principle approval for the same.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

Indian Bank Share Price

521.30 21.05 (4.21%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
SBI 752.60
Bank Of Baroda 264.20
PNB 124.35
Canara Bank 581.90
Union Bank Of India 153.45
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