Company Profile

Indian Bank is aiming to cross Rs 1 lakh crore business transactions through digital channels. The bank had made Rs 81,000 crore transactions through digital medium last financial year (FY24).

Meanwhile, on consolidated basis, the bank has reported 54.60% rise in its net profit at Rs 2,260.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,462.02 crore for the same quarter in the previous year. Total income of the bank increased by 18.38% at Rs 17,065.49 crore for Q4FY24 as compared Rs 14,415.98 crore for the corresponding quarter previous year. 

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

Indian Bank is currently trading at Rs. 535.00, up by 18.15 points or 3.51% from its previous closing of Rs. 516.85 on the BSE.

The scrip opened at Rs. 524.90 and has touched a high and low of Rs. 543.80 and Rs. 514.00 respectively. So far 68170 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 573.45 on 08-Feb-2024 and a 52 week low of Rs. 267.25 on 01-Jun-2023.

Last one week high and low of the scrip stood at Rs. 554.60 and Rs. 510.55 respectively. The current market cap of the company is Rs. 73018.92 crore.

The promoters holding in the company stood at 73.84%, while Institutions and Non-Institutions held 22.24% and 3.92% respectively.

Indian Bank is aiming to cross Rs 1 lakh crore business transactions through digital channels. The bank had made Rs 81,000 crore transactions through digital medium last financial year (FY24).

Meanwhile, on consolidated basis, the bank has reported 54.60% rise in its net profit at Rs 2,260.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,462.02 crore for the same quarter in the previous year. Total income of the bank increased by 18.38% at Rs 17,065.49 crore for Q4FY24 as compared Rs 14,415.98 crore for the corresponding quarter previous year. 

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

Indian Bank is currently trading at Rs. 528.75, down by 4.30 points or 0.81% from its previous closing of Rs. 533.05 on the BSE.

The scrip opened at Rs. 540.80 and has touched a high and low of Rs. 547.95 and Rs. 526.10 respectively. So far 121071 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 573.45 on 08-Feb-2024 and a 52 week low of Rs. 267.25 on 01-Jun-2023.

Last one week high and low of the scrip stood at Rs. 554.60 and Rs. 525.45 respectively. The current market cap of the company is Rs. 71119.70 crore.

The promoters holding in the company stood at 73.84%, while Institutions and Non-Institutions held 22.24% and 3.92% respectively.

Indian Bank has reported results for fourth quarter (Q4) and year ended March 31, 2024.

The bank has reported 55.26% rise in its net profit at Rs 2,247.00 crore for the quarter under review as compared to Rs 1,447.28 crore for the same quarter in the previous year. Total income of the bank increased by 18.60% at Rs 16,887.02 crore for Q4FY24 as compared Rs 14,238.29 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 54.60% rise in its net profit at Rs 2,260.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,462.02 crore for the same quarter in the previous year. Total income of the bank increased by 18.38% at Rs 17,065.49 crore for Q4FY24 as compared Rs 14,415.98 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the bank has reported 52.66% rise in net profit at Rs 8,062.94 crore as compared to Rs 5,281.70 crore for the previous year. Total income of the bank increased by 21.88% at Rs 63,481.50 crore for year under review as compared to Rs 52,085.27 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the bank has reported 52.50% rise in its net profit at Rs 8,129.15 crore as compared to Rs 5,330.48 crore for the previous year. Total income of the bank increased by 21.67% at Rs 64,231.68 crore for year under review as compared to Rs 52,789.66 crore for year ended March 31, 2023.

Indian Bank has reported results for fourth quarter (Q4) and year ended March 31, 2024.

The bank has reported 55.26% rise in its net profit at Rs 2,247.00 crore for the quarter under review as compared to Rs 1,447.28 crore for the same quarter in the previous year. Total income of the bank increased by 18.60% at Rs 16,887.02 crore for Q4FY24 as compared Rs 14,238.29 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 54.60% rise in its net profit at Rs 2,260.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,462.02 crore for the same quarter in the previous year. Total income of the bank increased by 18.38% at Rs 17,065.49 crore for Q4FY24 as compared Rs 14,415.98 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the bank has reported 52.66% rise in net profit at Rs 8,062.94 crore as compared to Rs 5,281.70 crore for the previous year. Total income of the bank increased by 21.88% at Rs 63,481.50 crore for year under review as compared to Rs 52,085.27 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the bank has reported 52.50% rise in its net profit at Rs 8,129.15 crore as compared to Rs 5,330.48 crore for the previous year. Total income of the bank increased by 21.67% at Rs 64,231.68 crore for year under review as compared to Rs 52,789.66 crore for year ended March 31, 2023.

Tata Consultancy Services (TCS) has entered into a strategic partnership with Amazon Web Services (AWS) to accelerate its customers’ cloud transformation journey at scale. This new strategic transformation agreement with AWS will enable TCS to facilitate full-stack digital transformation of its customers by leveraging data and generative artificial intelligence (AI) solutions on AWS. 

Rail Vikas Nigam (RVNL) has emerged as the Lowest Bidder (L1) from Southern Railway for ‘Provision of Automatic Block Signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway’. The project cost is Rs 239.09 crore. The said order is expected to be completed in 900 days. 

Tata Motors’ subsidiary -- Tata Passenger Electric Mobility (TPEM) has signed a non-binding Memorandum of Understanding (MoU) with Vertelo, a Macquarie managed integrated fleet electrification platform, for the delivery of 2,000 XPRES-T EVs. This partnership aims to bolster the plans to accelerate India’s transition to sustainable e-mobility. The company will begin deliveries of the cars to Vertelo in a phased manner.

Madhav Infra Projects has received Letter of Intent (LoI) worth Rs 329.73 crore from Gujarat Industries Power Company (GIPCL). The order is for Design, Engineering, Supply, Construction, Erection, Testing, Commissioning and 3 years of Operation and Maintenance of 75 MW (AC) solar Power Projects at Vastan near SLPP Tal-Mangrol Dist. Surat, Gujarat on Engineering, Procurement and Construction basis. The contract is to be executed in 330 days.

Sterlite Technologies (STL) has unveiled US-made, ‘Build America, Buy America’ compliant fiber optic solutions. Along with this, STL also unveiled its Rapid series of products, which will add to its ‘In America, For America’ portfolio of fiber optic cables. Rapid series of optical fiber cables range from high-capacity ribbonized cables to ruggedized designs for different applications like duct, direct buried, aerial and last-mile connectivity.

Indian Bank has entered into partnership with Tata Power Solar Systems (TPSSL) to promote the adoption of solar rooftop among residential consumers. The collaboration aims to facilitate financing solutions under the popular Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme for installations up to 3 KW, as well as extend support for installations ranging from 3 to 10 KW under the regular scheme.

The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to cease and desist the issue of fresh credit cards and the onboarding of new customers through its online and mobile banking channels with immediate effect due to lack of IT risk and information security governance for two consecutive years.