Indian Bank down for fifth straight session

Indian Bank is down for a fifth straight session today. The stock is quoting at Rs 937.75, down 0.18% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.25% on the day, quoting at 24414.85. The Sensex is at 78627.35, up 0.17%.Indian Bank has added around 11.88% in last one month.Meanwhile, Nifty PSU Bank index of which Indian Bank is a constituent, has increased around 9.11% in last one month and is currently quoting at 8862.9, up 1.34% on the day. The volume in the stock stood at 18.07 lakh shares today, compared to the daily average of 20.89 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 939.8, down 0.26% on the day. Indian Bank jumped 62.37% in last one year as compared to a 1.2% rally in NIFTY and a 34.37% spurt in the Nifty PSU Bank index.

The PE of the stock is 10.53 based on TTM earnings ending December 25.