The share price of Indian Overseas Bank (IOB) hit 20% upper circuit after the Reserve Bank of India (RBI) relaxed the curbs and removed the bank from the Prompt Corrective Action (PCA) framework.
On the BSE, the stock increased by 20% to Rs 24.60 a share, while on the National Stock Exchange (NSE), it increased by 19.80% to Rs 24.50.
The stock, however, dropped from its day's highs, and at 11.22 am, it was trading at Rs 23.15 apiece on the BSE, up 12.68 percent, and at Rs 23.10 on the NSE, up 12.96 percent.
On 30 June 2021 and 16 October 2020, the stock reached a 52-week high of Rs 29 and a 52-week low of Rs 8.80, respectively.
Only 2.97 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The company saw a 15.13 percent QoQ revenue decline, the lowest in the prior three years. The stock returned 56.11 percent over three years, compared to 61.54 percent for the Nifty 100 index. Over a three-year period, the stock generated a 56.11 percent return, compared to 51.06 percent for the Nifty Bank.
|INDIAN OVERSEAS BANK FUNDAMENTALS|
|Market Cap (Rs. in Cr.)||44042.62|
|Earning Per Share (EPS TTM) (Rs.)||0.55|
|Price To Earnings (P/E) Ratio||42.45|
|Book Value Per Share (Rs.)||8.76|