Indian Bank will hold a meeting of the Board of Directors of the Company on 28 October 2024.Powered by Capital Market - Live

The headline equity indices continued to trade with sideways in early afternoon trade. The Nifty traded above the 26,200 level. Oil & gas shares extended gains for the six consecutive trading sessions. At 12:30 IST, the barometer index, the S&P BSE Sensex shed 45.09 points or 0.05% to 85,791.03. The Nifty 50 index added 22.15 points or 0.08% to 26,238.20. The Sensex and Nifty clocked an all-time high of 85,978.25 and 26,277.35, respectively in early afternoon trade. In the broader market, the S&P BSE Mid-Cap index rose 0.22% and the S&P BSE Small-Cap index added 0.34%. The market breadth was strong. On the BSE, 2,175 shares rose and 1,641 shares fell. A total of 142 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 4.82% to 12.13. The Nifty 31 October 2024 futures were trading at 26,368, at a premium of 129.8 points as compared with the spot at 26,238.20. The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 65 lakh contracts at the 27,000 strike price. Maximum Put OI of 47.6 lakh contracts were seen at 26,000 strike price. Buzzing Index: The Nifty Oil & Gas rose 0.95% to 12,945.15. The index advanced 4.27% in the sixth consecutive trading session. Bharat Petroleum Corporation (up 3.87%), Gujarat State Petronet (up 3.57%), Hindustan Petroleum Corporation (up 2%), Gujarat Gas (up 1.6%), Castrol India (up 1.57%), Indian Oil Corporation (up 1.54%), Petronet LNG (up 1.29%), GAIL (India) (up 1.26%), Indraprastha Gas (up 0.86%) and Adani Total Gas (up 0.44%) edged higher. Stocks in Spotlight : Indian Bank rose 0.51%. The bank said that its board, at the meeting held on Thursday (26 September 2024) has approved for raising additional long term infrastructure bonds aggregating up to Rs 5000 crore, in one or more tranches. Genesys International Corporation added 1.10% after the company has received two new contracts from NEOM and the Saudi Geological Survey Authority to adopt geospatial technology for infrastructural development in Saudi Arabia. Rail Vikas Nigam (RVNL) gained 1.19% after the company announced that it has signed memorandum of understanding (MoU) with Engineers India (EIL) to explore global business opportunities. Biocon fell 0.43%. The company said that it has signed a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company to commercialize its GLP-1 products for treating diabetes and chronic weight management, in select countries of the Middle East.Powered by Capital Market - Live

The above fund raising would be over and above Rs 5000 crore already raised by the bank in current FY 2024-25. The fund raising via issue of infrastructure bonds would be undertaken during the current or subsequent financial year, based on the requirement for financing/refinancing of infrastructure and affordable housing in compliance with applicable RBI guidelines and other applicable laws. Indian Bank is a public sector bank. The Government of India held 73.84% stake in the bank as on 30 June 2024. The scrip rose 0.90% to currently trade at Rs 536.45 on the BSE. Powered by Capital Market - Live

The Board of Indian Bank at its meeting held on 26 September 2024 has approved for raising additional Long Term Infrastructure Bonds aggregating upto Rs.5000 crore over and above Rs.5000 crore already raised by the Bank in current FY 2024-25, in one or more tranches during the current or subsequent financial year based on the requirement for financing/refinancing of Infrastructure and Affordable Housing in compliance with applicable RBI guidelines and other applicable laws, rules and regulations. Powered by Capital Market - Live

Indian Bank gained for a third straight session today. The stock is quoting at Rs 531.85, up 4.39% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.3% on the day, quoting at 25867.5. The Sensex is at 84684.03, up 0.17%. Indian Bank has slipped around 2.79% in last one month. Meanwhile, Nifty PSU Bank index of which Indian Bank is a constituent, has slipped around 2.06% in last one month and is currently quoting at 6628, up 3.18% on the day. The volume in the stock stood at 17.59 lakh shares today, compared to the daily average of 18.74 lakh shares in last one month.The PE of the stock is 7.83 based on TTM earnings ending June 24.Powered by Capital Market - Live

Indian Bank will hold a meeting of the Board of Directors of the Company on 26 September 2024.Powered by Capital Market - Live

Indian Bank has successfully raised long term infrastructure bonds aggregating to Rs 5,000 crore on 13 September 2024. Powered by Capital Market - Live

Indian Bank announced that Care Ratings has assigned Long Term Issuer Rating of CARE AAA/Stable to the Bank. Powered by Capital Market - Live