The announcement was made before market hours today, 10 December 2012.
Meanwhile, the BSE Sensex was up 7.04 points, or 0.04%, to 19,431.14.
On BSE, 71,000 shares were traded in the counter as against an average daily volume of 1.68 lakh shares in the past one quarter.
The stock hit a high of Rs 85.70 and a low of Rs 84.50 so far during the day. The stock had hit a 52-week high of Rs 119 on 22 February 2012. The stock had hit a 52-week low of Rs 66.20 on 6 September 2012.
The stock had outperformed the market over the past one month till 7 December 2012, rising 11.55% compared with the Sensex's 2.76% rise. The scrip had also outperformed the market in past one quarter, gaining 25% as against Sensex's 9.84% rise.
The mid-cap company has an equity capital of Rs 797 crore. Face value per share is Rs 10.
Indian Overseas Bank (IOB)'s net profit fell 23.6% to Rs 158.43 crore on 14.4% growth in total income to Rs 5515.04 crore in Q2 September 2012 over Q2 September 2011.
The Government of India (GoI) holds 69.62% stake in IOB as per the shareholding pattern as on 30 September 2012.
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