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Indian Overseas Bank soars on planning to focus robust policy framework to reduce NPAs

Indian Overseas Bank is currently trading at Rs. 11.44, up by 0.12 points or 1.06% from its previous closing of Rs. 11.32 on the BSE.

The scrip opened at Rs. 11.35 and has touched a high and low of Rs. 11.38 and Rs. 11.29 respectively. So far 10063 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 17.25 on 18-Sep-2018 and a 52 week low of Rs. 11.05 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 12.00 and Rs. 11.14 respectively. The current market cap of the company is Rs. 10467.19 crore.

The promoters holding in the company stood at 92.52%, while Institutions and Non-Institutions held 3.45% and 4.04% respectively.

Indian Overseas Bank is planning to focus on maintaining robust policy framework and establishing various business verticals to reduce non-performing assets (NPAs). The bank is also looking at conserving capital and reducing risk burden to protect interest income and meet the provision requirement.

Indian Overseas Bank is a pioneer in many fields – Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.

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