Indian Bank slips for fifth straight session

Indian Bank is down for a fifth straight session today. The stock is quoting at Rs 652.25, down 0.09% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.04% on the day, quoting at 24511.35. The Sensex is at 80132.1, up 0.06%.Indian Bank has added around 6.13% in last one month.Meanwhile, Nifty PSU Bank index of which Indian Bank is a constituent, has eased around 1.87% in last one month and is currently quoting at 6778.9, down 0% on the day. The volume in the stock stood at 2.85 lakh shares today, compared to the daily average of 13.61 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 651.95, up 0.52% on the day. Indian Bank jumped 14.97% in last one year as compared to a 2.87% slide in NIFTY and a 2.97% fall in the Nifty PSU Bank index.

The PE of the stock is 7.65 based on TTM earnings ending June 25.

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