IDBI BANK Surges by 5%; BSE BANKEX Index Down 0.1%
January 29, 2019 03:26 PM

IDBI BANK share price has zoomed 5% and is presently trading at Rs 56.

Meanwhile, the BSE BANKEX Index is at 29,962 (down 0.1%).

Among the top Gainers in the BSE BANKEX Index today is IDBI BANK (up 5.1%).

SBI (down 0.5%) and KOTAK MAH. BANK (down 1.0%) are among the top losers today.

Over the last one year, IDBI BANK has moved down from Rs 63 to Rs 56, registering a loss of Rs 6 (down 10.3%).

On the other hand, the BSE BANKEX has moved down from 31,126 to 29,962, loss of 1,164 points (down 4.3%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAH. BANK (up 12.1%), AXIS BANK (up 8.6%) and HDFC BANK (up 2.9%).

What About the Benchmark Indices?

The BSE Sensex is at 35,719 (down 0.2%).

The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 2.5%), BAJAJ FINANCE (up 1.8%) and TATA MOTORS DVR (up 1.6%). Other gainers include INDUSIND BANK (up 1.6%) and TCS (up 1.6%). The most traded stocks in the BSE Sensex are AXIS BANK and INDUSIND BANK.

In the meantime, NSE Nifty is at 10,688 (up 0.2%). ADANI PORTS & SEZ (up 7.5%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,283 to 35,719, registering a gain of -564 points (up -1.9%).

IDBI BANK Financial Update...

IDBI BANK net profit down at Rs 36 billion for the quarter ended September 2018, compared to a loss of Rs 15 billion a year ago. Operating income declined 7.6% to Rs 53.6 billion during the period as against Rs 58.0 billion in July-September 2017.

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 1.3x.