ALLAHABAD BANK Surges by 6%; BSE BANKEX Index Up 0.9%

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ALLAHABAD BANK Surges by 6%; BSE BANKEX Index Up 0.9%
Wed, 27 Feb 09:34 AM

ALLAHABAD BANK share price has zoomed 6% and is presently trading at Rs 47.

Meanwhile, the BSE BANKEX Index is at 30,400 (up 0.9%).

Among the top Gainers in the BSE BANKEX Index today is ALLAHABAD BANK (up 6.0%).

Over the last one year, ALLAHABAD BANK has moved down from Rs 52 to Rs 47, registering a loss of Rs 6 (down 10.7%).

On the other hand, the BSE BANKEX has moved up from 29,002 to 30,400, registering a gain of 1,398 points (up 4.8%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 29.8%), KOTAK MAH. BANK (up 12.1%) and HDFC BANK (up 11.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 36,244 (up 0.7%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 3.0%), BAJAJ AUTO (up 2.7%) and SUN PHARMA (up 2.4%). Other gainers include ASIAN PAINTS (up 1.7%) and HERO MOTOCORP (up 1.6%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 10,909 (up 0.7%). YES BANK (up 2.9%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,446 to 36,244, registering a gain of 1,798 points (up 5.2%).

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 0.5x.



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