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Indian Overseas Bank slips for fifth straight session

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Indian Overseas Bank dropped for a fifth straight session today. The stock is quoting at Rs 11.15, down 3.04% on the day as on 13:24 IST on the NSE. The benchmark NIFTY is up around 0.41% on the day, quoting at 10594.5. The Sensex is at 35981.34, up 0.38%.Indian Overseas Bank has added around 7.73% in last one month.Meanwhile, Nifty PSU Bank index of which Indian Overseas Bank is a constituent, has increased around 12.87% in last one month and is currently quoting at 1478.4, down 0.91% on the day. The volume in the stock stood at 40.32 lakh shares today, compared to the daily average of 119.22 lakh shares in last one month.

The PE of the stock is 0 based on TTM earnings ending March 20.