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%).

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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.

What else is happening in the markets today? Dig in...

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