ARCs interested in acquiring the bad loans have to complete their due diligence on the accounts by August 12

Indian Overseas Bank invites EoIs from ARCs for Rs 1,100 crore bad loans

Apart from SBI and Canara Bank, lenders to the company include Union Bank of India, ICICI Bank, HDFC Bank, Axis Bank and Bank of Baroda, Bank of Maharashtra, Indian Overseas Bank, Punjab National Bank and Bank of Maharashtra.

Vedanta gets clearance from 75% secured lenders for demerger

Out of 12 PSU lenders, half of them- UCO Bank, Indian Overseas Bank, IDBI Bank, Bank of Maharashtra, Punjab & Sind Bank and Central Bank of India- do not meet the minimum public shareholding norms of Sebi.

UCO Bank, IOB, IDBI Bank among 6 PSU banks that may remain in spotlight over next few months

Indian Overseas Bank’s Q1 results show profit growth, improved asset quality, and plans for fund raising and credit growth.

IOB Q1 net profit rises 27% to ₹633 cr. on increase in interest income

Public sector Indian Overseas Bank on Monday reported a 26.60 per cent rise in its net profits for the April-June 2024 quarter at Rs 633 crore.

Indian Overseas Bank Q1 results: Net profit rises 26.6% to Rs 633 crore

Indian Overseas Bank (IOB) reported 20.93% jump in net profit to Rs 632.81 crore on 21.53% rise in total income to Rs 7,568 crore in Q1 FY25 over Q1 FY24.

IOB PAT rises 21% YoY to Rs 633 crore in Q1 FY25

Total Operating Income rise 20.48% to Rs 6539.01 crore

Earnings

Indian Overseas Bank consolidated net profit rises 28.69% in the June 2024 quarter

From the banking space, IDBI Bank Ltd., ICICI Bank Ltd., Axis Bank Ltd., and Indian Overseas Bank Ltd. are also scheduled to release their Q1 results this week.

Q1 Results This Week: Adani Green, HUL, Axis Bank, IndiGo Among 290+ Firms To Declare Earnings

HDFC Bank’s stock faces strong resistance at ₹1,790, with potential declines to ₹1,500 or ₹1,400 short-term. Long-term, it is likely to rise to ₹1,800 within a few quarters and eventually reach ₹2,100-2,200. Gujarat Ambuja Exports’ stock has fallen from its February high of ₹210 and is currently at ₹134.95. Strong support at ₹122-₹120 and ₹110 could halt the decline, with potential to rise to ₹220 over the next four to six quarters; buy more at ₹125 with a stop-loss at ₹105 and exit at ₹220. Indian Overseas Bank (₹65) is in a strong uptrend with support at ₹59 and ₹53. A break above ₹75 can take it to ₹91, then ₹110; buy more at ₹60, keep a stop-loss at ₹48, and exit at ₹110.

Technical Analysis: HDFC Bank, Gujarat Ambuja Exports Ltd (GAEL) and Indian Overseas Bank (IOB)

Four leading banks in India - State Bank of India (SBI), Bank of Baroda (BoB), Indian Overseas Bank, and Bank of Maharashtra - have recently launched special fixed deposit (FD) schemes. Here’s a close look at the schemes

Special fixed deposits in July: SBI, Bank of Baroda, Bank of Maharashtra float new schemes; check rates, tenures, validity

Indian Overseas Bank has launched a new service enabling customers to access their loan account statements directly through the Digilocker application or website under its move to expand the service.

Indian Overseas Bank Launches Upgradation Facility On Savings Scheme

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Indian Overseas Bank (the Bank) is engaged in the business of banking. The Bank's segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations.

Indian Overseas Bank