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Indian Overseas Bank shares today fell as much as 8 per cent on weak earnings.
The shares head towards their biggest single day percentage fall since March 13.
The state-run lender’s first quarter net profit has plunged 95 per cent year-on-year.
April-June quarter net bad loans jumped to 6.31 per cent of advances from 5.68 per cent in January-March quarter.
The bank is extremely stressed, and exposed to troubled infrastructure and metals and mining sectors, an analyst at a domestic broker said.
IOB is facing another year of low growth, and needs significant capital infusion, the analyst added.
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