IDBI BANK Surges by 10%; BSE BANKEX Index Up 0.2%

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IDBI BANK Surges by 10%; BSE BANKEX Index Up 0.2%
Tue, 2 Jun 09:23 AM

IDBI BANK share price has zoomed 10% and is presently trading at Rs 27.

Meanwhile, the BSE BANKEX Index is at 23,159 (up 0.2%).

Among the top Gainers in the BSE BANKEX Index today is IDBI BANK (up 9.9%).

INDUSIND BANK (down 0.2%) and AXIS BANK (down 0.8%) are among the top losers today.

Over the last one year, IDBI BANK has moved down from Rs 37 to Rs 27, registering a loss of Rs 10 (down 27.5%).

On the other hand, the BSE BANKEX has moved down from 35,547 to 23,159, loss of 12,388 points (down 35.5%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were [param_historic_top3].

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What About the Benchmark Indices?

The BSE Sensex is at 33,475 (up 0.2%).

The top gainers among the BSE Sensex stocks today are KOTAK MAHINDRA BANK (up 4.7%), HERO MOTOCORP (up 1.8%) and M&M (up 1.7%). Other gainers include TATA STEEL (up 1.2%) and HDFC (up 1.1%). The most traded stocks in the BSE Sensex are KOTAK MAHINDRA BANK and BHARTI AIRTEL.

In the meantime, NSE Nifty is at 9,881 (up 0.1%). The top gainers in the NSE Nifty include KOTAK MAHINDRA BANK (up 4.6%), M&M (up 2.6%) and HINDALCO (up 2.4%). Other gainers include HERO MOTOCORP (up 1.9%) and TATA STEEL (up 1.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 40,268 to 33,475, registering a loss of 6,793 points (down 17.10%).

IDBI BANK Financial Update...

IDBI BANK net profit declined 102.3% YoY to Rs 1 billion for the quarter ended March 2020, compared to a loss of Rs 58 billion a year ago. Operating income rose 13.4% to Rs 56.0 billion during the period as against Rs 49.4 billion in January-March 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 down 0.6x.



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