IOB had reported net non-performing asset (NPA) of Rs 1,364 crore for the September quarter, with net NPA ratio of 0.68 per cent. This was against Rs 4,148 crore in net NPA and an net NPA ratio of 2.56 per cent in the same quarter last year.
Punjab National Bank shares have seen a correction of more than 7 per cent in the last two sessions but the medium-term outlook appears relatively bullish.
Indian Overseas Bank share price: The stock on Monday rallied 20 per cent to hit a one-year high price of Rs 47.40. At this price, it has surged 46.16 per cent in just four days. The scrip eventually settled 14.43 per cent higher at Rs 45.20.
In August, Prime Minister Narendra Modi said in a jest that stock market investors should invest in PSUs which were criticised by the Opposition in the past. PM s light-hearted advise on the floor of the Lok Sabha led to PSU stocks surging over the last one month as shares of some PSUs seem to have caught the eyes of investors. Watch this Visual Story to see PSU stocks that have surged up to 85% in once month since PM s remark.