IDBI BANK Surges by 7%; BSE BANKEX Index Up 0.3%

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IDBI BANK Surges by 7%; BSE BANKEX Index Up 0.3%
Tue, 4 Jun 09:44 AM

IDBI BANK share price has zoomed 7% and is presently trading at Rs 40.

Meanwhile, the BSE BANKEX Index is at 35,642 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today is IDBI BANK (up 7.5%).

ICICI BANK and INDUSIND BANK (down 0.1%) are among the top losers today.

Over the last one year, IDBI BANK has moved down from Rs 61 to Rs 40, registering a loss of Rs 21 (down 35.1%).

On the other hand, the BSE BANKEX has moved up from 29,358 to 35,642, registering a gain of 6,284 points (up 21.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 51.2%), ICICI BANK (up 47.7%) and SBI (up 35.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 40,298 (up 0.1%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 2.9%), TATA MOTORS DVR (up 1.7%) and NTPC (up 1.5%). Other gainers include POWER GRID (up 1.4%) and TATA MOTORS (up 1.1%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 12,095 (down 0.1%). YES BANK (up 2.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,012 to 40,298, registering a gain of 5,286 points (up 15.1%).

IDBI BANK Financial Update...

IDBI BANK net profit down at Rs 49 billion for the quarter ended March 2019, compared to a loss of Rs 9 billion a year ago. Operating income declined 0.5% to Rs 54.6 billion during the period as against Rs 54.9 billion in January-March 2018.

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 1.2x.



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