ALLAHABAD BANK Plunges by 5%; BSE BANKEX Index Down 0.1%

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ALLAHABAD BANK Plunges by 5%; BSE BANKEX Index Down 0.1%
Wed, 21 Aug 11:56 AM

ALLAHABAD BANK share price has plunged 5% and is presently trading at Rs 35.

Meanwhile, the BSE BANKEX Index is at 31,767 (down 0.1%).

Among the top losers in the BSE BANKEX Index today is ALLAHABAD BANK (down 5.3%).

CITY UNION BANK (up 1.1%) and HDFC BANK (up 0.6%) are among the top gainers today.

Over the last one year, ALLAHABAD BANK has moved down from Rs 41 to Rs 35, registering a loss of Rs 6 (down 14.6%)..

The BSE BANKEX has moved down from 31,968 to 31,767, loss of 201 points (down 0.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 23.4%), KOTAK MAHINDRA BANK (up 18.4%) and CITY UNION BANK (up 11.0%).

What About the Benchmark Indices?

The BSE Sensex is at 37,407 (down 0.3%). The top gainers among the BSE Sensex stocks today are HERO MOTOCORP (up 1.0%). The most traded stocks in the BSE Sensex are ICICI BANK and MARUTI SUZUKI.

In the meantime, NSE Nifty is at 11,034 (down 0.4%). HERO MOTOCORP (up 1.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 38,279 to 37,407, registering a gain of -872 points (up -2.8%).

ALLAHABAD BANK Financial Update...

ALLAHABAD BANK net profit declined 117.5% YoY to Rs 1 billion for the quarter ended June 2019, compared to a loss of Rs 7 billion a year ago. Operating income rose 2.2% to Rs 43.2 billion during the period as against Rs 42.3 billion in April-June 2018.

For the year ended March 2019, ALLAHABAD BANK reported 84.3% increase in net profit to Rs 84.6 billion compared to net profit of Rs 45.9 billion during FY18.

Revenue of the company grew 3.2% to Rs 169 billion during FY19.

The current Price to earnings ratio of ALLAHABAD BANK, based on rolling 12 month earnings, stands at down 1.1x.

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