CITY UNION BANK Surges by 9%; BSE BANKEX Index Up 0.8%

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CITY UNION BANK Surges by 9%; BSE BANKEX Index Up 0.8%
Fri, 20 Mar 03:02 PM

CITY UNION BANK share price has zoomed 9% and is presently trading at Rs 160.

Meanwhile, the BSE BANKEX Index is at 23,917 (up 0.8%).

Among the top Gainers in the BSE BANKEX Index today is CITY UNION BANK (up 8.5%).

HDFC BANK (down 1.7%) and INDUSIND BANK (down 1.7%) are among the top losers today.

Over the last one year, CITY UNION BANK has moved down from Rs 193 to Rs 160, registering a loss of Rs 32 (down 17.4%).

On the other hand, the BSE BANKEX has moved down from 33,411 to 23,917, loss of 9,494 points (down 30.9%) during the last 12 months.

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

What About the Benchmark Indices?

The BSE Sensex is at 30,418 (up 5.1%).

The top gainers among the BSE Sensex stocks today are ONGC (up 17.7%), HUL (up 11.2%) and RELIANCE IND. (up 10.1%). Other gainers include TCS (up 9.2%) and ULTRATECH CEMENT (up 8.7%). The most traded stocks in the BSE Sensex are ONGC and SBI.

In the meantime, NSE Nifty is at 8,883 (up 5.2%). The top gainers in the NSE Nifty include ONGC (up 17.9%), GAIL (up 14.9%) and BHARTI INFRATEL (up 14.9%). Other gainers include DR. REDDYS LAB (up 11.3%) and HUL (up 11.0%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,363 to 30,418, registering a loss of 7,945 points (down 22.48%).

CITY UNION BANK Financial Update...

CITY UNION BANK net profit stood at Rs 2 billion for the quarter ended December 2019, compared to a profit of Rs 2 billion a year ago. Operating income rose 9.7% to Rs 10.6 billion during the period as against Rs 9.7 billion in October-December 2018.

For the year ended March 2019, CITY UNION BANK reported 15.3% increase in net profit to Rs 6.8 billion compared to net profit of Rs 5.9 billion during FY18.

Revenue of the company grew 10.7% to Rs 38 billion during FY19.

The current Price to earnings ratio of CITY UNION BANK, based on rolling 12 month earnings, stands at 15.6x.



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