Indian Overseas Bank sees good buying support

Capital Market 

Indian Overseas Bank is quoting at Rs 10.85, up 2.36% on the day as on 12:54 IST on the NSE. The stock is up 9.6% in last one year as compared to a 3.74% slide in NIFTY and a 41.68% slide in the Nifty PSU Bank index.

Indian Overseas Bank is up for a third straight session today. The stock is quoting at Rs 10.85, up 2.36% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 0.39% on the day, quoting at 11429.25. The Sensex is at 38696.08, up 0.44%. Indian Overseas Bank has gained around 3.33% in last one month.

Meanwhile, Nifty PSU Bank index of which Indian Overseas Bank is a constituent, has gained around 1.98% in last one month and is currently quoting at 1428.75, up 2.92% on the day. The volume in the stock stood at 20.38 lakh shares today, compared to the daily average of 27.58 lakh shares in last one month.

The PE of the stock is 0 based on TTM earnings ending March 20.

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First Published: Wed, August 19 2020. 13:05 IST