ALLAHABAD BANK Plunges by 12%; BSE BANKEX Index Up 0.5%

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ALLAHABAD BANK Plunges by 12%; BSE BANKEX Index Up 0.5%
Mon, 15 Jul 09:20 AM

ALLAHABAD BANK share price has plunged 12% and is presently trading at Rs 42.

Meanwhile, the BSE BANKEX Index is at 34,602 (up 0.5%).

Among the top losers in the BSE BANKEX Index today is ALLAHABAD BANK (down 11.6%).

FEDERAL BANK (up 1.3%) and INDUSIND BANK (up 1.0%) are among the top gainers today.

Over the last one year, ALLAHABAD BANK has moved down from Rs 42 to Rs 42, registering a loss of Rs 0 (down 0.6%)..

The BSE BANKEX has moved up from 29,959 to 34,602, registering a gain of 4,643 points (up 15.5%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 56.9%), AXIS BANK (up 41.1%) and SBI (up 38.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,010 (up 0.7%). The top gainers among the BSE Sensex stocks today are INFOSYS (up 4.7%). The most traded stocks in the BSE Sensex are HDFC and BAJAJ FINANCE.

In the meantime, NSE Nifty is at 11,618 (up 0.4%). INFOSYS (up 4.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,548 to 39,010, registering a gain of 2,462 points (up 6.7%).

ALLAHABAD BANK Financial Update...

ALLAHABAD BANK net profit down at Rs 38 billion for the quarter ended March 2019, compared to a loss of Rs 7 billion a year ago. Operating income declined 4.5% to Rs 40.4 billion during the period as against Rs 42.3 billion in January-March 2018.

For the year ended March 2019, ALLAHABAD BANK reported 84.3% increase in net profit to Rs 84.6 billion compared to net profit of Rs 45.9 billion during FY18.

Revenue of the company grew 3.2% to Rs 169 billion during FY19.

The current Price to earnings ratio of ALLAHABAD BANK, based on rolling 12 month earnings, stands at down 1.0x.

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