IDFC FIRST BANK Plunges by 10%; BSE BANKEX Index Down 6.1%
March 16, 2020 12:48 PM

IDFC FIRST BANK share price has plunged 10% and is presently trading at Rs 28.

Meanwhile, the BSE BANKEX Index is at 27,685 (down 6.1%).

Among the top losers in the BSE BANKEX Index today are IDFC FIRST BANK (down 10.1%) and INDUSIND BANK (down 14.9%).

YES BANK (up 40.9%) is among the top gainer today.

Over the last one year, IDFC FIRST BANK has moved down from Rs 50 to Rs 28, registering a loss of Rs 22 (down 44.1%)..

The BSE BANKEX has moved down from 32,356 to 27,685, loss of 4,671 points (down 14.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 12.7%) and ICICI BANK (up 5.3%).

What About the Benchmark Indices?

The BSE Sensex is at 33,103 (down 5.2%). The top gainers among the BSE Sensex stocks today are BAJAJ AUTO (up 0.9%). The most traded stocks in the BSE Sensex are BAJAJ AUTO.

In the meantime, NSE Nifty is at 9,602 (down 5.1%). YES BANK (up 41.1%) and BAJAJ AUTO (up 1.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,752 to 33,103, registering a loss of 4,649 points (down 14.41%).

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit down at Rs 16 billion for the quarter ended December 2019, compared to a loss of Rs 15 billion a year ago. Operating income rose 11.9% to Rs 41.0 billion during the period as against Rs 36.6 billion in October-December 2018.

For the year ended March 2019, IDFC FIRST BANK reported 296.8% decrease in net profit to Rs 18.8 billion compared to net profit of Rs 9.6 billion during FY18.

Revenue of the company grew 34.1% to Rs 122 billion during FY19.

The current Price to earnings ratio of IDFC FIRST BANK, based on rolling 12 month earnings, stands at down 4.1x.