Indian Overseas Bank tumbles on tax demand
03/03/2025 09:32
** Shares of Indian Overseas Bank IOBK.NS fall as much as 5.8% to 41 rupees, lowest since December 21, 2023 ** IOBK eyes its third straight session of falls ** The lender got tax demand from Deputy Commissioner, Chennai for liability of 7 billion rupees ($80.15 million) ** More than 8.7 mln shares change hands, 1.7x its 30-day avg ** Stock down 16% so far this year ($1 = 87.3360 Indian rupees) (Reporting by Ashna Teresa Britto in Bengaluru) ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))
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