IOB surpasses PNB, BoB to become the second most-valued listed PSB

In the past one month, the stock price of IOB has zoomed 57 per cent as compared a 4 per cent decline recorded by PNB and a 5 per cent gain in BOB share price

Indian Overseas Bank (IOB), on Friday, became the second most-valued listed public sector bank with a market-capitalisation of over Rs 50,000 crore.

As Street discounts privatisation of the state-owned lender, its shares have appreciated over 50 per cent on the BSE in the past one month. Effectively, the bank's m-cap has crossed Rs 50,000 crore-mark, surpassing its peers Punjab National Bank (PNB) and Bank of Baroda (BOB) in m-cap ranking. 

At 3:04 PM, IOB stood with an m-cap of Rs 51,887 crore, pushing PNB (Rs 46,411 crore) and BOB (Rs 44,112 crore) to third and fourth position, respectively,