INDUSIND BANK Surges by 5%; BSE BANKEX Index Up 0.5%

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INDUSIND BANK Surges by 5%; BSE BANKEX Index Up 0.5%
Tue, 17 Mar 09:50 AM

INDUSIND BANK share price has zoomed 5% and is presently trading at Rs 706.

Meanwhile, the BSE BANKEX Index is at 26,869 (up 0.5%).

Among the top Gainers in the BSE BANKEX Index today are INDUSIND BANK (up 5.4%) and YES BANK (up 29.6%).

ICICI BANK and FEDERAL BANK (down 0.4%) are among the top losers today.

Over the last one year, INDUSIND BANK has moved down from Rs 1,723 to Rs 706, registering a loss of Rs 1,017 (down 59.4%).

On the other hand, the BSE BANKEX has moved down from 33,205 to 26,869, loss of 6,336 points (down 19.8%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 2.4%) and ICICI BANK (up 1.3%).

Revealed: 3 Stocks for Potentially Massive Gains

What About the Benchmark Indices?

The BSE Sensex is at 31,832 (up 0.8%).

The top gainers among the BSE Sensex stocks today are TATA STEEL (up 5.5%), INDUSIND BANK (up 5.4%) and SUN PHARMA (up 4.4%). Other gainers include ONGC (up 4.3%) and ITC (up 3.3%). The most traded stocks in the BSE Sensex are ITC and SBI.

In the meantime, NSE Nifty is at 9,315 (up 0.8%). The top gainers in the NSE Nifty include YES BANK (up 30.3%), ADANI PORTS & SEZ (up 5.1%) and TATA STEEL (up 4.8%). Other gainers include VEDANTA LTD (up 4.7%) and SUN PHARMA (up 4.5%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 31,832, registering a loss of 6,263 points (down 16.91%).

INDUSIND BANK Financial Update...

INDUSIND BANK net profit stood at Rs 13 billion for the quarter ended December 2019, compared to a profit of Rs 10 billion a year ago. Operating income rose 26.4% to Rs 72.8 billion during the period as against Rs 57.6 billion in October-December 2018.

For the year ended March 2019, INDUSIND BANK reported 8.5% decrease in net profit to Rs 33.0 billion compared to net profit of Rs 36.1 billion during FY18.

Revenue of the company grew 28.8% to Rs 223 billion during FY19.

The current Price to earnings ratio of INDUSIND BANK, based on rolling 12 month earnings, stands at 9.4x.



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