Indian Overeas Bank
PSBs in focus; UCO Bank, Indian Overseas, Union Bank surge over 5%
Motilal Oswal Financial Services believes that sustained and consistent performance on delivering healthy return ratios can result in further re-rating of the stocks.
 "PSBs in focus; UCO Bank, Indian Overseas, Union Bank surge over 5%")
Indian Overseas Bank revises interest rates on domestic, foreign currency
Public sector Indian Overseas Bank has revised the interest rates on its domestic, foreign currency non-resident (banking) term deposits with immediate effect, the city-based lender said on Saturday. Depositors of domestic, non-resident external would receive interest rates up to 7.30 per cent by opening a term deposit with a tenure of 444 days and up to 7.25 per cent for a period of three years and above, Indian Overseas Bank said in a statement here. Foreign currency depositors shall be paid an interest rate up to 4.25 per cent by opening FCNR (B) term deposits with the bank, it said.
 "Indian Overseas Bank revises interest rates on domestic, foreign currency")
Going forward, IOB will be posting very good results: MD & CEO Sengupta
'It has been in the range of 20-30 per cent in almost every quarter'
 "Going forward, IOB will be posting very good results: MD & CEO Sengupta")
IOB Q2 net up 33% to Rs 501 cr, total income rises 15% to Rs 5,852 cr
Gross NPA down 6% during the quarter, net NPA up 11%; ratios improve in both spaces; lender came out of RBI's Prompt Corrective Action (PCA) on September 29, 2021
Jammu and Kashmir to Kerala, SBI executives are at every corner office
At least three PSBs have former SBI executives as MD & CEO at present - Sanjiv Chadha of Bank of Baroda, Partha Pratim Sengupta of Indian Overseas Bank and Soma Sankara Prasad of UCO Bank.
 "Jammu and Kashmir to Kerala, SBI executives are at every corner office")
Indian Overseas Bank plans to raise Rs 1,000 cr via QIP to sustain growth
During the quarter under review, the bank's total income dipped to Rs 5,028 crore as against Rs 5,607 crore during the April to June quarter of 2021-22
CRISIL upgrades IOB's Basel III compliant tier II bonds from 'A+' to 'AA-'
CRISIL, in a statement, said the capital position has been supported by regular fund infusion and expectation of strong support from the majority stakeholder, the government
Sensex gains for 3rd day, rises 433pts; Nifty holds 15,800; Zomato falls 6%
CLOSING BELL: Sectorally, the broad-based rally saw the Nifty Auto index ending with 2-per cent gain, and the Nifty Metal index with 1.6-per cent rally
 "Sensex gains for 3rd day, rises 433pts; Nifty holds 15,800; Zomato falls 6%")
IOB aims to boost advances to retail, MSME, agri, corporate sector in FY23
IOB is aiming to boost advances in retail, MSMEs, corporate and agricultural loans during the current fiscal year, as the lender has substantially brought down the stressed assets on its balance sheet
Recession fears hit global mkts; Sensex drops 1,046 pts, Nifty below 15,400
CLOSING BELL: The S&P BSE Sensex and the Nifty50 indices hit fresh 52-week lows as they spiraled 2 per cent down
 "Recession fears hit global mkts; Sensex drops 1,046 pts, Nifty below 15,400")
Stocks to watch: SBI, HDFC Bank, Yes Bank, Network18, JSW Steel, Zomato
Stocks to watch today: State Bank of India raised their MCLR lending rate by 20 basis points across all tenors; Network18 group firm Viacom18 eyes expansion after it bagged media rights for IPL.
 "Stocks to watch: SBI, HDFC Bank, Yes Bank, Network18, JSW Steel, Zomato")
6 Indian banks sue GVK Coal Developers in London for $1.5 bn loan default
The banks have sued GVK Group-owned GVK Coal Developers over a dispute on a $1-billion loan and $35-million letter of credit facility and a $160-million loan
 "6 Indian banks sue GVK Coal Developers in London for $1.5 bn loan default")
IOB Q4 net up by 58% to Rs 552 cr on lower bad loan provisioning
Operating profit down 8%, asset quality improves with GNPA at 9.82% as against 11.69% a year ago
 "IOB Q4 net up by 58% to Rs 552 cr on lower bad loan provisioning")
Stocks to Watch: HDFC, Jubilant Food, IOB, ZEEL, Timken, Oil & Gas, Tyre
Adani Power, Barbeque Nation, Cadila, GAIL, Godrej Properties, HCC, ITC, JK Tyre, Kalyan Jewellers, Lupin, Mahindra Holidays, TBZ and Titan are some of the major companies to announce results today
 "Stocks to Watch: HDFC, Jubilant Food, IOB, ZEEL, Timken, Oil & Gas, Tyre")
IOB, Central Bank of India surge up to 20% on privatisation buzz
IOB has surged 20 per cent to Rs 23.80, while CBI gained 15 per cent on the BSE in intra-day trade today.
Top headlines: IOB out of PCA framework; Invesco takes Zee to NCLT
Business Standard brings you the top stories from today
Nifty PSU Bank index up 47% in Feb on improved earnings, privatisation buzz
Indian Overseas Bank, Central Bank of India, Bank of Maharashtra, Bank of India, and Punjab & Sind Bank have seen their share price zoom between 53 per cent and 80 per cent in the last week
 "Nifty PSU Bank index up 47% in Feb on improved earnings, privatisation buzz")
Privatisation hope lifts Nifty PSB index 5%; BoI, IOB gain 40% in 2 days
Finance Minister Nirmala Sitharaman proposed to divest stake in two PSBs while unveiling Budget 2021 proposals
 "Privatisation hope lifts Nifty PSB index 5%; BoI, IOB gain 40% in 2 days")
PSBs jump on privatisation buzz; Bank of Maharashtra, IOB hit upper circuit
In February so far (till Monday), the Nifty PSU Bank index has rallied 16.4 per cent as compared to a 7.2 per cent gain in the benchmark Nifty50
 "PSBs jump on privatisation buzz; Bank of Maharashtra, IOB hit upper circuit")
CBI files charge sheet against Aluminex, IOB staff in Rs 300 cr fraud case
The CBI Tuesday filed a charge sheet against Parekh Aluminex Ltd (PAL) and its director, besides some officials of Indian Overseas Bank (IOB) in an alleged bank fraud case worth Rs 297.80 crore
