Indian Overseas Bank trades higher on the bourses

Indian Overseas Bank scrip is currently trading at Rs. 23.85, up by 0.25 points or 1.06% from its previous closing of Rs. 23.60 on the BSE.

The scrip opened at Rs. 24.10 and has touched a high and low of Rs. 24.10 and Rs. 23.35 respectively. So far 165188 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 51.40 on 04-Mar-2015 and a 52 week low of Rs. 21.10 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 24.60 and Rs. 21.10 respectively. The current market cap of the company is Rs. 4070.08 crore.

The promoters holding in the company stood at 81.19% while Institutions and Non-Institutions held 11.47% and 7.34% respectively.

The bank has reported a net loss of Rs 1425.06 crore for the quarter ended December 31, 2015 as compared to net loss of Rs 516.03 crore for the same quarter in the previous year. The bank’s total income has decreased by 3.03% to Rs 6445.78 crore for the quarter under review from Rs 6647.45 crore for the corresponding quarter of the previous year.

Gross non-performing assets (NPAs) increased to 12.64% in the October- December quarter as against 8.12% in the same quarter previous year, while net NPAs stood at 8.32