IDBI BANK Plunges by 5%; BSE BANKEX Index Down 1.1%

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IDBI BANK Plunges by 5%; BSE BANKEX Index Down 1.1%
Fri, 1 Feb 03:30 PM

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

Meanwhile, the BSE BANKEX Index is at 30,925 (down 1.1%).

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

INDUSIND BANK (up 0.7%) and KOTAK MAH. BANK (up 0.4%) are among the top gainers today.

Over the last one year, IDBI BANK has moved down from Rs 60 to Rs 56, registering a loss of Rs 4 (down 7.3%)..

The BSE BANKEX has moved down from 30,986 to 30,925, loss of 61 points (down 0.2%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 20.9%), KOTAK MAH. BANK (up 13.4%) and HDFC BANK (up 3.9%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 36,778 (up 0.5%). The top gainers among the BSE Sensex stocks today are HERO MOTOCORP (up 7.7%). The most traded stocks in the BSE Sensex are TATA MOTORS and ITC LTD.

In the meantime, NSE Nifty is at 10,983 (up 0.6%). HERO MOTOCORP (up 7.5%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,965 to 36,778, registering a gain of 813 points (up 1.4%).

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 1.2x.



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