Indian Bank moves up on inking pact with Manipal Technologies
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Indian Bank is currently trading at Rs. 279.60, up by 1.65 points or 0.59% from its previous closing of Rs. 277.95 on the BSE.
The scrip opened at Rs. 277.15 and has touched a high and low of Rs. 280.40 and Rs. 276.60 respectively. So far 15783 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 335.35 on 03-May-2023 and a 52 week low of Rs. 143.40 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 286.00 and Rs. 276.05 respectively. The current market cap of the company is Rs. 34785.17 crore.
The promoters holding in the company stood at 79.86%, while Institutions and Non-Institutions held 15.72% and 4.43% respectively.
Manipal Technologies has partnered with state-owned Indian Bank to drive financial inclusion by offering customised banking products. The partnership aims to build a sustainable network of corporate business correspondents (CBCs) that will enhance the availability, affordability, and accessibility of financial services, particularly in underserved markets and rural areas.
As part of this association, Manipal Technologies will work closely with Indian Bank to offer tailor-made banking products in rural locations. The initial focus will be serving more than 600 locations and gradually expanding the presence in newer regions in states such as Tamil Nadu, Chhattisgarh, Uttar Pradesh, Kerala, Maharashtra, Haryana, and Punjab.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.
