IDFC FIRST BANK Surges by 5%; BSE BANKEX Index Up 0.3%

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IDFC FIRST BANK Surges by 5%; BSE BANKEX Index Up 0.3%
Wed, 31 Jul 02:30 PM

IDFC FIRST BANK share price has zoomed 5% and is presently trading at Rs 42.

Meanwhile, the BSE BANKEX Index is at 32,707 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today are IDFC FIRST BANK (up 5.0%) and INDUSIND BANK (up 5.2%).

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

Over the last one year, IDFC FIRST BANK has moved up from Rs 41 to Rs 42, registering a gain of Rs 1 (up 1.3%).

On the other hand, the BSE BANKEX has moved up from 31,144 to 32,707, registering a gain of 1,563 points (up 4.9%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 38.3%), AXIS BANK (up 18.3%) and KOTAK MAHINDRA BANK (up 16.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 37,524 (up 0.3%).

The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 5.2%), YES BANK (up 4.8%) and HERO MOTOCORP (up 4.1%). Other gainers include SUN PHARMA (up 3.5%) and BAJAJ AUTO (up 2.7%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 11,126 (up 0.3%). INDUSIND BANK (up 5.1%) and YES BANK (up 4.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 37,494 to 37,524, registering a gain of 30 points .

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit declined 59.9% YoY to Rs 6 billion for the quarter ended June 2019, compared to a loss of Rs 15 billion a year ago. Operating income rose 3.5% to Rs 37.9 billion during the period as against Rs 36.6 billion in April-June 2018.

For the year ended March 2019, IDFC FIRST BANK reported 296.8% decrease in net profit to Rs 18.8 billion compared to net profit of Rs 9.6 billion during FY18.

Revenue of the company grew 34.1% to Rs 122 billion during FY19.

The current Price to earnings ratio of IDFC FIRST BANK, based on rolling 12 month earnings, stands at down 7.3x.



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