Indian Bank rises for third consecutive session

Indian Bank gained for a third straight session today. The stock is quoting at Rs 841.55, up 1.89% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.94% on the day, quoting at 23941.85. The Sensex is at 76196.93, up 1.04%. Indian Bank has slipped around 7.79% in last one month.

Meanwhile, Nifty PSU Bank index of which Indian Bank is a constituent, has slipped around 7.84% in last one month and is currently quoting at 8006.15, up 1.91% on the day. The volume in the stock stood at 14.13 lakh shares today, compared to the daily average of 27.87 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 840.35, up 1.84% on the day. Indian Bank is up 41.47% in last one year as compared to a 4.24% drop in NIFTY and a 21.52% drop in the Nifty PSU Bank index.

The PE of the stock is 9.15 based on TTM earnings ending March 26.

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