Indian Bank shines on aiming to cross Rs 1 lakh crore business transactions through digital channels


Indian Bank is currently trading at Rs. 535.00, up by 18.15 points or 3.51% from its previous closing of Rs. 516.85 on the BSE.

The scrip opened at Rs. 524.90 and has touched a high and low of Rs. 543.80 and Rs. 514.00 respectively. So far 68170 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 573.45 on 08-Feb-2024 and a 52 week low of Rs. 267.25 on 01-Jun-2023.

Last one week high and low of the scrip stood at Rs. 554.60 and Rs. 510.55 respectively. The current market cap of the company is Rs. 73018.92 crore.

The promoters holding in the company stood at 73.84%, while Institutions and Non-Institutions held 22.24% and 3.92% respectively.

Indian Bank is aiming to cross Rs 1 lakh crore business transactions through digital channels. The bank had made Rs 81,000 crore transactions through digital medium last financial year (FY24).

Meanwhile, on consolidated basis, the bank has reported 54.60% rise in its net profit at Rs 2,260.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,462.02 crore for the same quarter in the previous year. Total income of the bank increased by 18.38% at Rs 17,065.49 crore for Q4FY24 as compared Rs 14,415.98 crore for the corresponding quarter previous year.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

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