Indian Overseas Bank rises on entering into agreement with broking partner SMC Global

Indian Overseas Bank is currently trading at Rs. 23.20, up by 0.05 points or 0.22% from its previous closing of Rs. 23.15 on the BSE.

Indian Overseas Bank
Indian Overseas Bank

The scrip opened at Rs. 23.15 and has touched a high and low of Rs. 23.50 and Rs. 23.10 respectively. So far 748256 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 24.85 on 22-Nov-2022 and a 52 week low of Rs. 15.25 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 24.85 and Rs. 20.20 respectively. The current market cap of the company is Rs. 44137.13 crore.

The promoters holding in the company stood at 96.38%, while Institutions and Non-Institutions held 1.42% and 2.19% respectively.

Indian Overseas Bank has entered into an agreement with broking partner SMC Global to serve clients interested in opening savings, demat and trading accounts together. As per the tie-up, savings bank and demat account of clients would be opened at the city-headquartered bank while trading account would be with the SMC Global.

As part of expansion of services in addition to the existing full-service brokerage plan, SMC Global has offered a new brokerage plan ‘Discount Brokerage’ for its existing and new clients through the bank.

Indian Overseas Bank is a pioneer in many fields – Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.