AXIS BANK Plunges by 10%; BSE BANKEX Index Down 7.4%

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AXIS BANK Plunges by 10%; BSE BANKEX Index Down 7.4%
Mon, 16 Mar 02:52 PM

AXIS BANK share price has plunged 10% and is presently trading at Rs 545.

Meanwhile, the BSE BANKEX Index is at 27,685 (down 7.4%).

Among the top losers in the BSE BANKEX Index today are AXIS BANK (down 10.0%) and INDUSIND BANK (down 15.5%).

YES BANK (up 45.0%) is among the top gainer today.

Over the last one year, AXIS BANK has moved down from Rs 738 to Rs 545, registering a loss of Rs 193 (down 26.2%)..

The BSE BANKEX has moved down from 32,356 to 27,685, loss of 4,671 points (down 14.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 11.1%) and ICICI BANK (up 3.9%).

Read Now: When the Dust Settles, This Stock Would Have Potentially Created Millionaires

What About the Benchmark Indices?

The BSE Sensex is at 33,103 (down 7.1%).

In the meantime, NSE Nifty is at 9,602 (down 6.5%). YES BANK (up 47.6%) and BAJAJ AUTO (up 0.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,752 to 33,103, registering a loss of 4,649 points (down 16.03%).

AXIS BANK Financial Update...

AXIS BANK net profit stood at Rs 18 billion for the quarter ended December 2019, compared to a profit of Rs 17 billion a year ago. Operating income rose 11.2% to Rs 157.1 billion during the period as against Rs 141.3 billion in October-December 2018.

For the year ended March 2019, AXIS BANK reported 987.7% increase in net profit to Rs 50.5 billion compared to net profit of Rs 4.6 billion during FY18.

Revenue of the company grew 20.2% to Rs 560 billion during FY19.

The current Price to earnings ratio of AXIS BANK, based on rolling 12 month earnings, stands at 29.1x.

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