IDBI BANK Share Price Up by 6%; BSE BANKEX Index Down 2.4%

Fri, 26 Feb 09:40 AM

IDBI BANK share price has zoomed 6% and is presently trading at Rs 33.

Meanwhile, the BSE BANKEX Index is at 40,206 (down 2.4%).

Among the top Gainers in the BSE BANKEX Index today is IDBI BANK (up 6.5%).

CITY UNION BANK (down 1.0%) and YES BANK (down 1.6%) are among the top losers today.

Over the last one year, IDBI BANK has moved down from Rs 34 to Rs 33, registering a loss of Rs 1 (down 4.1%).

On the other hand, the BSE BANKEX has moved up from 34,957 to 40,206, registering a gain of 5,249 points (up 14.5%) during the last 12 months.

The top buzzing stocks among the BSE BANKEX Index stocks during this same period were HDFC BANK (up 29.9%), SBI (up 23.5%) and ICICI BANK (up 14.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 50,388 (down 1.3%).

The top gainers among the BSE Sensex stocks today are MARUTI SUZUKI (up 1.3%), NESTLE (up 0.7%) and HUL (up 0.5%). Other gainer include BHARTI AIRTEL (up 0.2%). The most traded stocks in the BSE Sensex are BHARTI AIRTEL and HUL.

In the meantime, NSE Nifty is at 14,919 (down 1.4%). The top gainers in the NSE Nifty include COAL INDIA (up 1.9%), MARUTI SUZUKI (up 1.3%) and NESTLE (up 1.0%). Other gainers include BHARTI AIRTEL (up 0.9%) and IOC (up 0.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 40,363 to 50,388, registering a gain of 10,025 points (up 24.83%).

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 10.3x.

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