The Board of Directors of Indian Overseas Bank in the meeting held on July 28, 2011, have approved the increase of the Benchmark Prime Lending Rate (BPLR) of the Bank by 50 basis points from existing 14.50% to 15.00% with effect from August 01, 2011.
The Base Rote of the Bank has been revised from 10.25 % to 10.75% with effect from August 01, 2011 for all advances linked to Base Rate.
The stock closed the day at Rs.139.35, up by Rs.3.30 or 2.43%. The stock hit an intraday high of Rs.140 and low of Rs.134.
The total traded quantity was 0.45 lakhs compared to 2 week average of 0.72 lakhs.