Indian Overseas Bank

Rs.1,199 crore capital infused into IOB

Indian-Overseas-BankChennai, Dec 19 : The central government increased its holding in the city based Indian Overseas Bank (IOB) by just over five percent to 79.01 percent, infusing additional capital amounting to Rs. 1,199.99 crore, the bank said Thursday.

A statement issued by IOB here said the Indian government has infused Rs. 1,199.99 crore as additional equity capital and accordingly, necessary shares have been allotted.

The banks raised the additional capital by issuing over 22.97 crore shares of Rs. 10 each at a premium of Rs. 42.23 per share.

RBI not changing interest rates prudent: IOB chairman

M-NarendraChennai, Dec 18 : The RBI's decision to leave interest rates unchanged in its mid-quarter monetary policy review was a "prudent move", Indian Overseas Bank (IOB) chairman M. Narendra said Wednesday.

"The RBI's action to pause on policy rates is a welcome and prudent move at the present juncture," Narendra said in a statement.

"Money market conditions are likely to continue at the present level for the time being. The bond yields are likely to soften with an eye on future data," he added.

IOB suffers 16% fall in quarterly net profit

Indian Overseas BankIndian Overseas Bank (IOB) on Friday posted a year-on-year decline of more than 16 per cent in its net profit for the second quarter of current financial year, blaming difficult economic conditions for the decline.

The Chennai-based public sector lender announced that its net profit in the July to September quarter slipped 16.35 per cent year-on-year to Rs 132.5 crore. In the July to September quarter of last financial year, the lender had pocketed Rs 158.4 crore in net profit.

Indian Overseas Bank addressing complaints on education loan

indian-overseas-bankChennai, Aug 8 : The Indian Overseas Bank (IOB) is alive to complaints of students pertaining to education loan and to a large extent has succeeded in addressing them, a senior official of the government-owned bank said Thursday.

"Some of the branch managers are new and hence they need to be trained. We have also issued a master circular on the various aspects of education loan. Whenever complaints are received they are sorted out immediately. The complaints have come down to a large extent," Indira Padmini, general manager told IANS here.

Indian Overseas Bank third quarter profits rise 7.6%

Indian Overseas Bank third quarter profits rise 7.6%Chennai based public sector bank, Indian Overseas Bank (IOB) has said that it has recorded an increase of 7.60 per cent in net profit to Rs. 1.17 billion during the third quarter of the financial year.

The lender had recorded a net profit of Rs. 1.08 billion during the third quarter of the previous financial year. The bank's total income increased by 16.58 per cent to Rs. 58.47 billion during the quarter from October to December, 2012 compared to Rs. 50.15 billion in the same period of the previous year.

Buy Indian Overseas Bank With Stop Loss Of Rs 153

Buy Indian Overseas Bank With Stop Loss Of Rs 153Technical analyst Jatinder Sharma has maintained 'buy' rating on Indian Overseas Bank (IOB) stock to attain a target of Rs 168-170 in 2-3 trading sessions.

According to analyst, the investors can buy the stock with a stop loss of Rs 153.

Today, the stock of the bank opened at Rs 160 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 15.56 and 10.01 respectively.

The share price has seen a 52-week high of Rs 176.35 and a low of Rs 88.05 on BSE.

Sell IOB with a target of Rs 130

iobThe Aditya Birla Money group has maintained 'sell' rating on the Indian Overseas Bank (IOB) stock with a short term target of Rs 130.

According to analysts, the stock can be sold with a stop loss of Rs 145.

Today, the stock of the Indian Overseas Bank opened at Rs 137.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 176.35 and a low of Rs 88.00 on BSE.

Current EPS & P/E ratio stood at 15.56 and 8.78 respectively.

Profit soars at 127% for Indian Overseas Bank

Profit soars at 127% for Indian Overseas Bank  The net profit of Indian Overseas Bank rose to Rs 231 crore for the third quarter of 2010-2011 as compared to Rs 101 crore in the quarter of 2009-10.

Reportedly, the relative profit growth was whopping 127% as the total income generated was Rs 3,452.86 crore (22%) in the third quarter from Rs 2,828.65 crore of the same quarter during the last fiscal year.

With the net interest margin improving with an increase of 0.58% in addition to the last year’s 2.69%, the net interest income (NII) reached Rs 1,130 crore owing to NII increase by 42%.

IOB June qtr net dips to Rs 200.44 crore

IOBIndia's leading bank, Indian Overseas Bank has informed that there has been a decline in its net profit in the first quarter of the financial year. It has declared its financial results for April-June quarter of the fiscal year 2010-11.

The company has informed that, in this reviewed quarter it has suffered a drop in it net figure. The net profit of the firm was reported to be Rs 200.44 crore for the first quarter of the current year.

Hold Indian Overseas Bank With Stop Loss Of Rs 103

Hold Indian Overseas Bank With Stop Loss Of Rs 103Stock market analyst Mileen Vasudeo has maintained 'hold' rating on Indian Overseas Bank stock to achieve a target between Rs 125-127.

According to analyst, the investors can hold the stock with stop loss of Rs 103.

Today, the stock of the company opened at Rs 110.50 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 8.78 and 12.56 respectively.

The share price has seen a 52-week high of Rs 141 and a low of Rs 79 on BSE.

Intraday Buy Call For Indian Overseas Bank

Intraday Buy Call For Indian Overseas BankTechnical Analyst Kunal Sarogi has maintained 'buy' rating on Indian Overseas Bank (IOB) stock to achieve an intraday target of Rs 107.

According to him, interested traders can purchase the stock with a stop loss of Rs 100.

The shares of the bank, on April 26, closed at Rs 102.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 141 and a low of Rs 60.50 on BSE.

Current EPS & P/E ratio stood at 12.35 and 8.22 respectively.

IOB net up 18% in Q1

IOB net up 18% in Q1Indian Overseas Bank (IOB) has announced that it has recorded a net profit of Rs 301crore for the quarter ended 30 June 2008, up by 18% from Rs 255 crore in the same period last year.  

In fact, the bank’s other income for the June three month period stood at Rs 230 crore compared to Rs 26 crore in the previous year.  

The operating profit for the first quarter ended June 09 has witnessed a jump by 77.71% at Rs 428 crore (Rs 241.19 crore). During the same period, the bank reported a total income of Rs 2,808 crore, up by 28.43% compared to Rs 2,186 crore last year.  




Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content