Reliance Infrastructure | Capital First | Dabur India | PVR | HUL | Stocks in News | Jumbo Bag | Hind Copper | Jindal Poly | La Opala and Healthcare Global Enterprise are stocks, which are in news today.
Now, the Nifty has multiple strong supports at lower levels around 9,250, 9,200 and 9,170. In the May series, we are seeing options open interest is building up in 9,300 puts which indicate higher probability of upside breakout in prices from recent consolidations.
In a major heist, thieves broke open the safe of public sector Indian Overseas bank (IOB) in Tholassery here and decamped with Rs 27 lakh in old and new currency notes, police said today.
The bank's slippages in the June quarters stood at Rs 5,330 crore and the restructured book at Rs 14,000 crore, says Atul Agarwal, ED, IOB.
Standalone Net Interest Income (NII) for the quarter was Rs 1,347.77 crore and net loss was Rs 1,425.06 crore.
Credit Suisse has maintained underperform rating on the stock and reduced target price from Rs 29 to Rs 19 per share.
Indian Overseas Bank (IOB) on Saturday reported 94.56 percent decline in net profit at Rs 14.76 crore for the quarter ended June 30, 2015, compared to the same period last year, on sharp increase in provisioning for bad loans.
Public sector lender Indian Overseas Bank's fourth quarter profit fell 86.8 percent year-on-year to Rs 35.5 crore compared to Rs 268.3 crore in the year-ago period.
Consistent disappointment on the earnings front, especially PSU banks and the word from European Central Bank (saying it will no longer accept Greek bonds as collateral) drove the market to down in late trade.
Hero Motocorp| IOB| M&M| Bata India| Tata Global Beverages| DLF| Gail| Steel Strips Wheels| Infosys| Crompton Greaves| Biocon| KEC International| Thomas Cook| CEAT | Pantaloons Fashion| Berger Paints| BILT| TRF| Bank Of India and Hathway Cable are stocks, which are in news today.
Raamdeo Agrawal, Motilal Oswal feels that lower oil prices, diesel deregulation and Maruti earnings have added zing to the market. He is optimistic that the market will see more new highs in the days to come.
In an interview to CNBC-TV18's Sumaira Abidi and Nigel D'Souza, M Narendra, CMD, IOB shared his views on the latest happenings in the company and the road ahead.
Apart from State Bank of India and IDBI Bank, Indian Overseas Bank, Dena Bank and Allahabad Bank have also evinced interest in raising funds through qualified institutional placement (QIP).
"As of now, the number of our folios stand at 1.5 lakh...we will try to cross 2.5 lakh figure by the end of next year," he said, adding that sound performance of its equity schemes will provide an impetus to attract retail investors.
Shahina Mukadam of Varun Capital recommends buying Indian Hotels Company for a target of Rs 65 and advises selling Indian Overseas Bank for a target of Rs 45.40.
The board at its meeting held on December 14 cleared the proposal to raise up to Rs 350 crore from issue of shares on preferential basis and/or QIP, IOB said.
Sudarshan Sukhani of s2analytics.com recommends exiting Indian Overseas Bank.
Angel Broking has come out with its report on banking sector. From a structural perspective, the research firm, has remained cautious on PSU banks as a segment, given the challenges they face in terms of a) low capital adequacy and core profitability and b) higher competitive intensity.
Shardul Kulkarni of Angel Broking is of the view that one may short Karnataka Bank November Futures contract and expects the stock to test Rs 95.
Jet Airways | SBI | Sun Pharma | Tata Steel | M&M | Aurobindo Pharma | GSS Infotech | Reliance Capital | Reliance Communications | Fortis Healthcare | Tata Global | CARE Ratings | TBZ | Pratibha Industries | NCC | Everest Kanto | Shriram EPC | United Spirits and Gillette India are stocks, which are in the news today.
The Chennai-based bank has reported Rs 158.43 crore net profit during the corresponding period of previous year, Indian Overseas Bank said in a statement.
Standalone Net Interest Income (NII) for the quarter was Rs 5,668.84 crore and net profit was Rs 132.55 crore.
According to Shardul Kulkarni of Angel Broking, one may short Indian Overseas Bank (IOB) at the current level with a target of Rs 45 and a stoploss of Rs 51.50.
Speaking to CNBC-TV18, M Narendra, chairman, Indian Overseas Bank says that bank requires Rs 2100 crore capital and with the government giving it Rs 1200 crore, it will need to raise less than Rs 900 crore from QIPs
According to Aashish Tater, Head of Research of Fortunewizard.com, as scenario in banking space is likely to be challenging, one may purchase Indian Overseas Bank (IOB) on scattered basis, which will give a tremendous returns from current levels.