Indian Bank rises on Q3 profit jump

Indian Bank

25/01/2024 05:05

** Shares of Indian Bank  INBA.NS  up as much as 8.5% to a
record high of 479 rupees
    ** The lender reported a 51.8% YoY rise in Dec-qtr net
profit to 21.19 billion rupees ($254.9 million); interest earned
up 20%
    ** Over 5 million shares change hands as of 10:28 a.m. IST,
1.4 times the 30-day moving average.
    ** Stock posts the biggest intraday percentage gain since
Nov. 13, 2023; on track to gain for the second straight month if
trends hold.
    ** INBA has been trading above its 200-day moving avg since
July 7, 2022.
    ** Stock is the top pct gainer in the Nifty PSU Bank index
 .NIFTYPSU , which is up 0.5%.
 
($1 = 83.1250 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))