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ALLAHABAD BANK Surges by 6%; BSE BANKEX Index Down 0.8%

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ALLAHABAD BANK Surges by 6%; BSE BANKEX Index Down 0.8%
Wed, 13 Feb 03:34 PM

ALLAHABAD BANK share price has zoomed 6% and is presently trading at Rs 42.

Meanwhile, the BSE BANKEX Index is at 30,277 (down 0.8%).

Among the top Gainers in the BSE BANKEX Index today is ALLAHABAD BANK (up 5.6%).

BANK OF BARODA (down 0.7%) and AXIS BANK (down 1.1%) are among the top losers today.

Over the last one year, ALLAHABAD BANK has moved down from Rs 61 to Rs 42, registering a loss of Rs 19 (down 31.7%).

On the other hand, the BSE BANKEX has moved up from 29,080 to 30,277, registering a gain of 1,197 points (up 2.9%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAH. BANK (up 24.7%), AXIS BANK (up 24.1%) and HDFC BANK (up 13.9%).

What About the Benchmark Indices?

The BSE Sensex is at 36,376 (down 0.5%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS (up 2.0%), HDFC (up 1.0%) and HCL TECH. (up 0.8%). Other gainers include INFOSYS LTD (up 0.5%) and TATA MOTORS DVR (up 0.4%). The most traded stocks in the BSE Sensex are TATA MOTORS and ITC LTD.

In the meantime, NSE Nifty is at 10,892 (down 0.5%). ADANI PORTS & SEZ (up 4.8%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,300 to 36,376, registering a gain of 2,076 points (up 4.9%).

ALLAHABAD BANK Financial Update...

ALLAHABAD BANK net profit declined 42.0% YoY to Rs 7 billion for the quarter ended December 2018, compared to a loss of Rs 13 billion a year ago. Operating income declined 0.4% to Rs 42.3 billion during the period as against Rs 42.4 billion in October-December 2017.

For the year ended March 2018, ALLAHABAD BANK reported 1484.0% increase in net profit to Rs 45.9 billion compared to net profit of Rs 2.9 billion during FY17.

Revenue of the company grew 7.3% to Rs 164 billion during FY18.

The current Price to earnings ratio of ALLAHABAD BANK, based on rolling 12 month earnings, stands at down 0.4x.

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