Indian Bank is currently trading at Rs 129.95, up by 0.40 points or 0.31% from its previous closing of Rs 129.55 on the BSE.
The scrip opened at Rs 130.00 and has touched a high and low of Rs 130.05 and Rs 128.60 respectively. So far 1787 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 218.85 on 07-Jan-2013 and a 52 week low of Rs 128.55 on 12-Jun-2013.
Last one week high and low of the scrip stood at Rs 145.00 and Rs 128.55 respectively. The current market cap of the company is Rs 5567.67 crore.
The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 14.23% and 5.77% respectively.
Indian Bank has joined hands with United India Insurance Company (UIIC) to launch a web portal offering online entry and renewal of group insurance policies. This step was taken in order to move towards a more customer friendly business model. The bank and UIIC have developed this web portal which will offer online entry/renewal (of policies) among other services.
Since 2006 the bank has been offering a Arogya Raksha Group Mediclaim Insurance Policy to its customers. The entire operations till now were done manually consuming huge time.
The bank proposes to add about 10,000 online policies through the portal during this year and generate over Rs 20 crore in commission earnings. This online facility would be extended to other policies also.
