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IDBI BANK Plunges by 5%; BSE BANKEX Index Down 0.9%

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IDBI BANK Plunges by 5%; BSE BANKEX Index Down 0.9%
Wed, 15 May 03:20 PM

IDBI BANK share price has plunged 5% and is presently trading at Rs 36.

Meanwhile, the BSE BANKEX Index is at 32,408 (down 0.9%).

Among the top losers in the BSE BANKEX Index today are IDBI BANK (down 5.2%) and YES BANK (down 8.6%).

KOTAK MAHINDRA BANK (up 1.0%) is among the top gainer today.

Over the last one year, IDBI BANK has moved down from Rs 63 to Rs 36, registering a loss of Rs 27 (down 42.4%)..

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 30.6%), SBI (up 23.0%) and ICICI BANK (up 21.5%).

What About the Benchmark Indices?

The BSE Sensex is at 37,560 (down 0.6%). The top gainers among the BSE Sensex stocks today are BAJAJ FINANCE (up 4.1%). The most traded stocks in the BSE Sensex are ITC and INFOSYS.

In the meantime, NSE Nifty is at 11,287 (down 0.6%). BAJAJ FINANCE (up 4.3%) and EICHER MOTOR (up 4.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,557 to 37,560, registering a gain of 2,003 points (up 4.3%).

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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