IDBI BANK Surges by 5%; BSE BANKEX Index Up 0.5%

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IDBI BANK Surges by 5%; BSE BANKEX Index Up 0.5%
Wed, 15 May 09:20 AM

IDBI BANK share price has zoomed 5% and is presently trading at Rs 37.

Meanwhile, the BSE BANKEX Index is at 32,408 (up 0.5%).

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

PNB (down 0.1%) and KOTAK MAHINDRA BANK (down 0.4%) are among the top losers today.

Over the last one year, IDBI BANK has moved down from Rs 63 to Rs 37, registering a loss of Rs 27 (down 42.7%).

On the other hand, the BSE BANKEX has moved up from 29,739 to 32,408, registering a gain of 2,669 points (up 9.0%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 33.4%), SBI (up 24.7%) and ICICI BANK (up 23.7%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 37,539 (up 0.6%).

The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 2.3%), BAJAJ FINANCE (up 1.6%) and NTPC (up 1.5%). Other gainers include INDUSIND BANK (up 1.3%) and TATA MOTORS DVR (up 1.2%). The most traded stocks in the BSE Sensex are TATA MOTORS DVR and NTPC.

In the meantime, NSE Nifty is at 11,272 (up 0.4%). NTPC 7.37% 3A 5-10-2035 BOND (up 1.8%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,557 to 37,539, registering a gain of 1,982 points (up 5.6%).

IDBI BANK Financial Update...

IDBI BANK net profit declined 158.7% YoY to Rs 9 billion for the quarter ended December 2018, compared to a loss of Rs 15 billion a year ago. Operating income declined 5.3% to Rs 54.9 billion during the period as against Rs 58.0 billion in October-December 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 1.0x.



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