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Federal Bank Gains 4%; BSE BANKEX Index Up 1.8%
Wed, 3 Jul 9:59

Federal Bank Gains 4%; BSE BANKEX Index Up 1.8%Image source: DNY59/www.istockphoto.com

Federal Bank share price has zoomed 4% and is presently trading at Rs 181.3.

Meanwhile, the BSE BANKEX index is at 60,396.8 (up 1.8%).

Among the top gainers in the BSE BANKEX index today are HDFC Bank (up 2.9%) and Axis Bank (up 2.0%).

IDFC FIRST BANK (down 0.6%) is among the top losers today.

Over the last one year, Federal Bank has moved up from Rs 127.6 to Rs 181.3, registering a gain of Rs 53.8 (up 42.1%).

On the other hand, the BSE BANKEX index has moved up from 50,894.9 to 60,396.8, registering a gain of 18.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 42.1%), SBI (up 41.8%) and Bank of Baroda (up 34.3%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,046.9 (up 0.8%).

The top gainers among the BSE Sensex today are HDFC Bank (up 2.9%) and Axis Bank (up 2.0%). The most traded stocks in the BSE Sensex are HDFC Bank and SBI.

In the meantime, NSE Nifty is at 24,299.7 (up 0.7%). HDFC Bank and Axis Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,046.9, registering a gain of 14,841.8 points (up 22.8%).

Federal Bank Financial Update...

Federal Bank net profit grew 3.5% YoY to Rs 9,724 million for the quarter ended March 2024, compared to a profit of Rs 9,396 million a year ago. Net sales rose 26.5% to Rs 63,392 million during the period as against Rs 50,123 million in January-March 2023.

For the year ended March 2023, Federal Bank reported 60.7% increase in net profit to Rs 31,645 million compared to net profit of Rs 19,687 million during FY22. Revenue of the company grew 23.9% to Rs 178,118 million during FY23.

The current Price to earnings ratio of Federal Bank, based on rolling 12 month earnings, stands at 11.3.

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