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ALLAHABAD BANK Surges by 5%; BSE BANKEX Index Up 0.0%

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ALLAHABAD BANK Surges by 5%; BSE BANKEX Index Up 0.0%
Thu, 7 Mar 01:18 PM

ALLAHABAD BANK share price has zoomed 5% and is presently trading at Rs 54.

Meanwhile, the BSE BANKEX Index is at 31,069 .

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

INDUSIND BANK (down 0.2%) and HDFC BANK (down 0.2%) are among the top losers today.

Over the last one year, ALLAHABAD BANK has moved up from Rs 49 to Rs 54, registering a gain of Rs 5 (up 10.7%).

On the other hand, the BSE BANKEX has moved up from 27,551 to 31,069, registering a gain of 3,518 points (up 12.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 40.2%), ICICI BANK (up 25.5%) and KOTAK MAHINDRA BANK (up 14.7%).

What About the Benchmark Indices?

The BSE Sensex is at 36,749 .

The top gainers among the BSE Sensex stocks today are L&T (up 2.1%), TATA MOTORS DVR (up 1.9%) and M&M (up 1.8%). Other gainers include TATA MOTORS (up 1.3%) and TCS (up 1.0%). The most traded stocks in the BSE Sensex are TATA MOTORS and SBI.

In the meantime, NSE Nifty is at 11,078 (down 0.1%). L&T (up 2.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,317 to 36,749, registering a gain of 3,432 points (up 10.0%).

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 0.6x.

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