Indian Bank share price closed with a bang in today’s trading session. The share registered a new 52 week high of Rs 279.00, by rising more than 5 per cent.
Indian Bank on Wednesday (25th January 2016) reported nearly eight fold rise in net profit at Rs 373.47 crores for the quarter ended 31st December, 2016 against Rs 48.48 crores registered in the corresponding quarter last financial year.
Asset quality of the bank stood almost stable during the entire quarter under review with gross non-performing assets (NPA) as percentage of gross advances jumped marginally to 7.69 per cent from 7.28 per cent and net NPAs stood at 4.76 per cent against 4.62 per cent on sequential basis.
Provisions as well as contingencies figures dipped 24.76 per cent on a year-on-year basis to Rs 540.29 crores.
For October to December period, net interest income (NII) of the bank climbed 12.22 per cent to Rs 1,246.58 crores against Rs 1110.81 crores in the same period last year.
Indian Bank is an Indian state-owned financial services company established in the year 1907 and headquartered in Chennai, India. It has about 20,661 employees, with 2594 branches and is one of the top performing public sector banks in India. It has overseas branches in places like Colombo and Jaffna in Sri Lanka, and in Singapore, and 223 correspondent banks in 71 countries. Since the year 1969 the Government of India has owned the bank.
By the end of the day’s trade Indian Bank share price closed at Rs 272.40, up by 4.29 per cent or 11.05 points on the counter of NSE. Out of all the top 500 selected stocks by Dynamic Levels, Indian Bank has been selected as one of Multibagger stocks for the month. Get the historical share price performance of Indian Bank at Indian Bank share price history.
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