Shares of state-run Indian Bank Ltd. are trading with gains of over 3% on Monday, November 3, extending their gains for the sixth day running.

With this, the stock has extended its year-to-date advance to 70%. The stock has been delivering positive annual returns since 2020. In the last five years, the stock has gained over 10x in value.

For the September quarter, Indian Bank's core income increased by 6% from last year, while its net profit grew by 11.5% on a year-on-year basis. Asset quality also improved from the previous quarter with an reduction in both gross and Net NPAs.

Indian Bank, along with other PSU lenders have see a significant upmove through last week, after the recent SEBI draft proposals, which indicate a change in the weightage of the top constituents of non-benchmark

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