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IOB gains over 14% on strong Q4 earnings

By Religare
|

Shares of Indian Overseas Bank (IOB) rose over 14 per cent in early trade on Bombay Stock Exchange (BSE) after the bank reported strong set of numbers for the quarter ended March 2014. It posted an over four-fold jump in net profit at Rs 268 crore for the fourth quarter ended March 31, 2014 (Q4), due to lower provisioning, higher income and cash recovery.

The shares of Bank rose as much as 14.99 per cent to trade at Rs 63.30 a piece on the BSE.

 

However, shares of the Bank rose 14.88 per cent to Rs 63.30 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 22,655.59, up 187.67 points or 0.84 per cent at 11.08 hours.

Read more about: indian overseas bank
Story first published: Wednesday, April 30, 2014, 12:20 [IST]
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