Indian Bank is currently trading at Rs. 296.10, up by 3.50 points or 1.20% from its previous closing of Rs. 292.60 on the BSE.

Indian Overseas Bank
Indian Overseas Bank

The scrip opened at Rs. 293.05 and has touched a high and low of Rs. 300.00 and Rs. 293.05 respectively. So far 161239 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 335.35 on 03-May-2023 and a 52 week low of Rs. 146.70 on 01-Jul-2022.

Last one week high and low of the scrip stood at Rs. 300.00 and Rs. 276.50 respectively. The current market cap of the company is Rs. 37276.05 crore.

The promoters holding in the company stood at 79.86%, while Institutions and Non-Institutions held 15.72% and 4.43% respectively.

Indian Bank has unveiled new services under its digital transformation initiative ‘Project WAVE’. Accordingly, the bank in collaboration with National E-Governance Services has introduced an electronic bank guarantee (e-BG) service to ease traditional paper-based processes. This move will also reduce the turn-around time of the bank guarantee issuance and delivery to the beneficiary from an industry average of 3-4 working days to a few minutes.

Besides, the facility would replace the need for physical stamp paper and physical signatures of customers by replacing them with digital stamping and e-signing making the entire process digital. Indian Bank has launched a facility to avail pre-approved business loans, an end-to-end digital journey, for eligible individuals and proprietor firms to cater to their respective businesses.