ALLAHABAD BANK Surges by 5%; BSE BANKEX Index Up 0.4%

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ALLAHABAD BANK Surges by 5%; BSE BANKEX Index Up 0.4%
Thu, 28 Mar 11:14 AM

ALLAHABAD BANK share price has zoomed 5% and is presently trading at Rs 55.

Meanwhile, the BSE BANKEX Index is at 33,871 (up 0.4%).

Among the top Gainers in the BSE BANKEX Index today is ALLAHABAD BANK (up 5.2%).

HDFC BANK and INDUSIND BANK (down 0.7%) are among the top losers today.

Over the last one year, ALLAHABAD BANK has moved up from Rs 49 to Rs 55, registering a gain of Rs 6 (up 12.1%).

On the other hand, the BSE BANKEX has moved up from 27,375 to 33,871, registering a gain of 6,496 points (up 23.5%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 49.9%), ICICI BANK (up 39.3%) and KOTAK MAHINDRA BANK (up 27.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,380 (up 0.5%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 1.9%), INFOSYS (up 1.6%) and SUN PHARMA (up 1.6%). Other gainers include HDFC (up 1.4%) and VEDANTA LTD (up 1.2%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 11,521 (up 0.6%). INDIABULLS HOU. FIN. (up 3.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,174 to 38,380, registering a gain of 5,206 points (up 15.6%).

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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