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City Union Bank Gains 8%; BSE BANKEX Index Up 0.5%
Mon, 29 Jul 9:20

City Union Bank Gains 8%; BSE BANKEX Index Up 0.5%Image source: phive2015/www.istockphoto.com

City Union Bank share price has zoomed 8% and is presently trading at Rs 162.4.

Meanwhile, the BSE BANKEX index is at 58,936.0 (up 0.5%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 1.6%) and AU SMALL FINANCE BANK (up 1.6%).

IDFC FIRST BANK (down 3.0%) and HDFC Bank (down 0.5%) are among the top losers today.

Over the last one year, City Union Bank has moved up from Rs 129.7 to Rs 162.4, registering a gain of Rs 32.7 (up 25.2%).

On the other hand, the BSE BANKEX index has moved up from 51,646.9 to 58,936.0, registering a gain of 14.1% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 50.7%), SBI (up 42.2%) and Bank of Baroda (up 29.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,695.1 (up 0.4%).

The top gainers among the BSE Sensex today are NTPC (up 2.0%) and Tata Steel (up 1.4%). The most traded stocks in the BSE Sensex are ICICI Bank and Bharti Airtel.

In the meantime, NSE Nifty is at 24,932.1 (up 0.4%). NTPC and IOC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,355.7 to 81,695.1, registering a gain of 15,339.3 points (up 23.1%).

City Union Bank Financial Update...

City Union Bank net profit grew 16.4% YoY to Rs 2,645 million for the quarter ended June 2024, compared to a profit of Rs 2,273 million a year ago. Net sales rose 9.7% to Rs 13,886 million during the period as against Rs 12,662 million in April-June 2023.

For the year ended March 2023, City Union Bank reported 23.3% increase in net profit to Rs 9,375 million compared to net profit of Rs 7,602 million during FY22. Revenue of the company grew 14.8% to Rs 47,143 million during FY23.

The current Price to earnings ratio of City Union Bank, based on rolling 12 month earnings, stands at 11.4.

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