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IDBI BANK Surges by 5%; BSE BANKEX Index Up 0.1%

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IDBI BANK Surges by 5%; BSE BANKEX Index Up 0.1%
Tue, 25 Jun 01:06 PM

IDBI BANK share price has zoomed 5% and is presently trading at Rs 36.

Meanwhile, the BSE BANKEX Index is at 34,490 (up 0.1%).

Among the top Gainers in the BSE BANKEX Index today is IDBI BANK (up 5.2%).

ICICI BANK (down 0.1%) and SBI (down 0.2%) are among the top losers today.

Over the last one year, IDBI BANK has moved down from Rs 58 to Rs 36, registering a loss of Rs 22 (down 37.6%).

On the other hand, the BSE BANKEX has moved up from 29,617 to 34,490, registering a gain of 4,873 points (up 16.3%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 49.3%), ICICI BANK (up 48.3%) and SBI (up 31.4%).

What About the Benchmark Indices?

The BSE Sensex is at 39,241 (up 0.2%).

The top gainers among the BSE Sensex stocks today are NTPC (up 2.6%), RELIANCE IND. (up 1.2%) and POWER GRID (up 1.2%). Other gainers include ONGC (up 1.0%) and M&M (up 1.0%). The most traded stocks in the BSE Sensex are TATA MOTORS and TATA STEEL.

In the meantime, NSE Nifty is at 11,737 (up 0.3%). BPCL (up 2.9%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,470 to 39,241, registering a gain of 3,771 points (up 10.6%).

IDBI BANK Financial Update...

IDBI BANK net profit down at Rs 49 billion for the quarter ended March 2019, compared to a loss of Rs 9 billion a year ago. Operating income declined 0.5% to Rs 54.6 billion during the period as against Rs 54.9 billion in January-March 2018.

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 1.1x.

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