Indian Bank gets govt nod for FPO
Indian Bank has received the approval of Government of India to raise an equity capital of Rs 61.40 crore through follow-on public offer, comprising 6.14 crore equity shares of Rs 10 each.
Indian Bank has received the approval of Government of India to raise an equity capital of Rs 61.40 crore through follow-on public offer, comprising 6.14 crore equity shares of Rs 10 each.
At 13:28 hours today, the share was trading at Rs 231.40, up 3.28%, with volumes of 74,834 shares. Market capitalisation stands at Rs 9,944.88 crore. The bank has posted a net profit of Rs 438.86 crore for the quarter ended March 31, 2011, a 7% growth as compared to Rs 409.96 crore in same quarter the previous year. Total income increased 23.64% to Rs 2865.80 crore in the quarter ended March 2011Indian Bank has revised its base rate by 0.50% to 10% per annum and benchmark prime lending rate (BPLR) by 0.50% to 14.25% per annum following 50 basis points hike in key rates by RBI on Tuesday. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
