Indian Bank surges on inking pact to offload entire 4% stake in ISARC
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Indian Bank is currently trading at Rs. 171.40, up by 1.20 points or 0.71% from its previous closing of Rs. 170.20 on the BSE.
The scrip opened at Rs. 169.60 and has touched a high and low of Rs. 171.75 and Rs. 169.45 respectively. So far 55486 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 194.80 on 26-Oct-2021 and a 52 week low of Rs. 96.20 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 175.40 and Rs. 160.30 respectively. The current market cap of the company is Rs. 21309.50 crore.
The promoters holding in the company stood at 79.86%, while Institutions and Non-Institutions held 12.45% and 7.70% respectively.
Indian Bank has entered into Share Purchase Agreement for disinvestment of bank's entire equity stake of 4% in India SME Asset Reconstruction Company (ISARC) to Dhansamriddhi Finance at Rs 9.80 per share. The said stake sale is subject to obtaining requisite regulatory approvals.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.
