IDFC FIRST BANK Plunges by 5%; BSE BANKEX Index Down 1.0%

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IDFC FIRST BANK Plunges by 5%; BSE BANKEX Index Down 1.0%
Fri, 17 Jan 09:24 AM

IDFC FIRST BANK share price has plunged 5% and is presently trading at Rs 44.

Meanwhile, the BSE BANKEX Index is at 36,191 (down 1.0%).

Among the top losers in the BSE BANKEX Index today are IDFC FIRST BANK (down 5.4%) and YES BANK (down 5.9%).

KOTAK MAHINDRA BANK (up 0.1%) is among the top gainer today.

Over the last one year, IDFC FIRST BANK has moved down from Rs 48 to Rs 44, registering a loss of Rs 5 (down 9.5%)..

The BSE BANKEX has moved up from 30,815 to 36,191, registering a gain of 5,376 points (up 17.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 42.3%), KOTAK MAHINDRA BANK (up 41.3%) and CITY UNION BANK (up 29.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 41,936 (down 0.1%). The top gainers among the BSE Sensex stocks today are BHARTI AIRTEL (up 2.6%). The most traded stocks in the BSE Sensex are BHARTI AIRTEL and RELIANCE IND..

In the meantime, NSE Nifty is at 12,350 (down 0.1%). BHARTI AIRTEL (up 4.1%) and RELIANCE IND. (up 1.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,321 to 41,936, registering a gain of 5,615 points (up 15.3%).

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit declined 55.8% YoY to Rs 7 billion for the quarter ended September 2019, compared to a loss of Rs 15 billion a year ago. Operating income rose 9.7% to Rs 40.2 billion during the period as against Rs 36.6 billion in July-September 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 6.7x.

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