BANK OF MAHARASHTRA Surges by 6%; BSE BANKEX Index Up 1.7%

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BANK OF MAHARASHTRA Surges by 6%; BSE BANKEX Index Up 1.7%
Thu, 23 May 09:22 AM

BANK OF MAHARASHTRA share price has zoomed 6% and is presently trading at Rs 17.

Meanwhile, the BSE BANKEX Index is at 34,913 (up 1.7%).

Among the top Gainers in the BSE BANKEX Index today are BANK OF MAHARASHTRA (up 5.6%) and BANK OF BARODA (up 5.5%).

Over the last one year, BANK OF MAHARASHTRA has moved up from Rs 13 to Rs 17, registering a gain of Rs 4 (up 27.4%).

On the other hand, the BSE BANKEX has moved up from 28,924 to 34,913, registering a gain of 5,989 points (up 20.3%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 51.6%), ICICI BANK (up 42.0%) and SBI (up 39.3%).

Get Details: We are Bullish on These 3 Little-known Stocks

What About the Benchmark Indices?

The BSE Sensex is at 39,688 (up 1.2%).

The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 4.6%), SBI (up 3.8%) and YES BANK (up 2.3%). Other gainers include POWER GRID (up 2.2%) and L&T (up 2.1%). The most traded stocks in the BSE Sensex are SBI and YES BANK.

In the meantime, NSE Nifty is at 11,915 (up 1.5%). INDUSIND BANK (up 5.3%) and ZEE ENTERTAINMENT (up 4.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,651 to 39,688, registering a gain of 5,037 points (up 14.2%).

BANK OF MAHARASHTRA Financial Update...

BANK OF MAHARASHTRA net profit declined 101.9% YoY to Rs 724 million for the quarter ended March 2019, compared to a loss of Rs 38 billion a year ago. Operating income rose 4.9% to Rs 27.8 billion during the period as against Rs 26.5 billion in January-March 2018.

For the year ended March 2018, BANK OF MAHARASHTRA reported 18.0% decrease in net profit to Rs 11.1 billion compared to net profit of Rs 13.6 billion during FY17.

Revenue of the company grew 8.0% to Rs 111 billion during FY18.

The current Price to earnings ratio of BANK OF MAHARASHTRA, based on rolling 12 month earnings, stands at down 0.9x.



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