Indian Overseas Bank gains 9% on issuing equity shares to govt

Indian Overseas Bank approved issue of equity shares to the government on preferential basis for the capital infusion of ₹4,100 crore received during FY21.The bank's stock was trading at ₹16.60 up 3.11% from its previous close, while the benchmark index, Sensex gained 0.25% to 48,003.88