Indian Bank announced that the Annual General Meeting (AGM) of the bank will be held on 27 June 2019.

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Indian Bank is up for a third straight session today. The stock is quoting at Rs 255.6, up 8.47% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 2.8% on the day, quoting at 11727. The Sensex is at 39040.78, up 2.93%. Indian Bank has slipped around 0.29% in last one month.

Meanwhile, Nifty PSU Bank index of which Indian Bank is a constituent, has slipped around 1.27% in last one month and is currently quoting at 2949.2, up 7.62% on the day. The volume in the stock stood at 13.08 lakh shares today, compared to the daily average of 17.83 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 256.5, up 8.39% on the day. Indian Bank is down 16.81% in last one year as compared to a 11.51% jump in NIFTY and a 16.36% jump in the Nifty PSU Bank index.

The PE of the stock is 35.21 based on TTM earnings ending March 19.

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Net loss of Indian Bank reported to Rs 189.77 crore in the quarter ended March 2019 as against net profit of Rs 131.98 crore during the previous quarter ended March 2018. Total Operating Income rose 11.29% to Rs 4967.88 crore in the quarter ended March 2019 as against Rs 4463.89 crore during the previous quarter ended March 2018.

For the full year,net profit declined 74.43% to Rs 321.95 crore in the year ended March 2019 as against Rs 1258.99 crore during the previous year ended March 2018. Total Operating Income rose 12.10% to Rs 19184.81 crore in the year ended March 2019 as against Rs 17113.65 crore during the previous year ended March 2018.

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In continuation to the letter dated 29 April 2019, intimating about the issue upto 1,20,00,000 equity shares under tranche-1 of Indian Bank Employees Share Purchase Scheme (IndBank- ESPS), Indian Bank announced that:i) the issue/ offer was closed on 10 May 2019.ii) the issue received a subscription of Rs 231.53 crore (97.88%) as against the target of Rs 236.53 crore at the offer price.iii) The Stock Exchanges will be informed on allotment of shares to eligible employees under the ESPS as and when the same is completed.

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