IDBI BANK Share Price Up by 11%; BSE BANKEX Index Up 1.7%

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IDBI BANK Share Price Up by 11%; BSE BANKEX Index Up 1.7%
Wed, 3 Mar 11:43 AM

IDBI BANK share price has zoomed 11% and is presently trading at Rs 35.

Meanwhile, the BSE BANKEX Index is at 40,449 (up 1.7%).

Among the top Gainers in the BSE BANKEX Index today is IDBI BANK (up 11.3%).

Over the last one year, IDBI BANK has moved up from Rs 30 to Rs 35, registering a gain of Rs 5 (up 18.0%).

On the other hand, the BSE BANKEX has moved up from 33,117 to 40,449, registering a gain of 7,332 points (up 22.1%) during the last 12 months.

The top buzzing stocks among the BSE BANKEX Index stocks during this same period were SBI (up 40.7%), HDFC BANK (up 33.2%) and ICICI BANK (up 23.2%).

Revealed: 3 Stocks for Potentially Massive Gains

What About the Benchmark Indices?

The BSE Sensex is at 50,871 (up 1.0%).

The top gainers among the BSE Sensex stocks today are TATA STEEL (up 5.8%), BAJAJ FINANCE (up 2.7%) and SBI (up 2.6%). Other gainers include BAJAJ FINSERV (up 2.6%) and AXIS BANK (up 2.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 15,091 (up 1.1%). The top gainers in the NSE Nifty include TATA STEEL (up 5.7%), JSW STEEL (up 4.4%) and ADANI PORTS & SEZ (up 3.8%). Other gainers include GRASIM (up 3.0%) and HINDALCO (up 2.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 38,144 to 50,871, registering a gain of 12,727 points (up 33.24%).

IDBI BANK Financial Update...

IDBI BANK net profit declined 106.6% YoY to Rs 4 billion for the quarter ended December 2020, compared to a loss of Rs 58 billion a year ago. Operating income declined 7.6% to Rs 45.6 billion during the period as against Rs 49.4 billion in October-December 2019.

For the year ended March 2018, IDBI BANK reported 61.8% increase in net profit to Rs 81.5 billion compared to net profit of Rs 50.3 billion during FY17.

Revenue of the company grew 17.1% to Rs 230 billion during FY18.

The current Price to earnings ratio of IDBI BANK, based on rolling 12 month earnings, stands at 11.0x.



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