The block deal constituted 0.15% of the bank's equity.

Meanwhile, the BSE Sensex was down 12.13 points, or 0.09%, 13,757.02.

On BSE, 3.83 lakh shares were traded in the counter. The stock had an average daily volume of 5.94 lakh shares in the past one quarter.

The stock hit a high of Rs 81.50 and a low of Rs 79.10 so far during the day. The stock hit a 52-week high of Rs 118 on 19 August 2008 and a 52-week low of Rs 37.55 on 9 March 2009.

The mid-cap bank stock had outperformed the market over the past one month till 8 July 2009, falling 6.65% as compared to the Sensex's 8.98% fall. It had also outperformed the market in the past one quarter, gaining 57.34% as compared to the Sensex's return of 27.45%.

The bank's current equity is Rs 544.80 crore. Face value per share is Rs 10.

The current price of Rs 81.25 discounts the bank's Q4 March 2009 annualized EPS of Rs 23.67, by a PE multiple of 3.43.

In the Union Budget 2009-2010 announced on Monday, 6 July 2009, the government did not announce any sops for the banking sector. Banks were anticipating to get tax relief on interest earned on infrastructure lending.

Indian Overseas Bank (IOB)'s net profit rose 5.4% to Rs 322.37 crore on 27% rise in operating income to Rs 3,135.02 crore in Q4 March 2009 over Q4 March 2007.

The bank's gross non-performing assets (NPA) rose 92.93% to Rs 1,923.41 crore as at 31 March 2009 from Rs 996.95 crore as on 31 March 2008. The ratio of gross NPA to gross advances increased to 2.54% as of 31 March 2009 from 1.63% as of 31 March 2008. The net NPA as of 31 March 2009 was at 1.33%.

IOB provides banking and other financial services to corporate and private customers. The group offers personal banking, cash management, retail loans and other financial services.

The government of India holds 61.23% stake in the bank (as on 31 March 2009).