Indian Bank is currently trading at Rs. 147.70, up by 3.65 points or 2.53% from its previous closing of Rs. 144.05 on the BSE.
The scrip opened at Rs. 146.75 and has touched a high and low of Rs. 148.75 and Rs. 144.95 respectively. So far 61348 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 194.80 on 26-Oct-2021 and a 52 week low of Rs. 85.10 on 12-Jan-2021.
Last one week high and low of the scrip stood at Rs. 148.75 and Rs. 139.00 respectively. The current market cap of the company is Rs. 18345.35 crore.
The promoters holding in the company stood at 79.86%, while Institutions and Non-Institutions held 12.94% and 7.20% respectively.
Indian Bank has partnered with Edelweiss Housing Finance (EHFL) and ECL Finance (ECLF). The lenders recently signed a MoU under RBI’s CLM, significantly expanding the portfolio of lending products available to the target customers, increasing their access to credit.
The alliance aims to leverage the combined strengths of the partners to make a winning proposition for all stakeholders including customers. Indian Bank brings capital flows at low costs, which when combined with Edelweiss’ expertise on customer acquisition, credit assessment, servicing and robust technology, will help meet the expanding credit needs of customers.
This will expand the reach to underserved markets, enabling Priority Sector borrowers to get credit at lower costs, given the blended rate of interest. As the country gradually moves out of the pandemic, the credit offered through this partnership will provide customers with access to cost effective capital, aiding their economic revival and growth.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.