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IDBI Bank Gains 3%; BSE BANKEX Index Down 0.2%
Thu, 18 Jul 9:25

IDBI Bank Gains 3%; BSE BANKEX Index Down 0.2%Image source: DNY59/www.istockphoto.com

IDBI Bank share price has zoomed 3% and is presently trading at Rs 90.8.

Meanwhile, the BSE BANKEX index is at 60,195.8 (down 0.2%).

Among the top gainers in the BSE BANKEX index today are Axis Bank (up 0.7%) and Federal Bank (up 0.4%).

HDFC Bank (down 1.0%) and ICICI Bank (down 0.4%) are among the top losers today.

Over the last one year, IDBI Bank has moved up from Rs 58.1 to Rs 90.8, registering a gain of Rs 32.7 (up 56.2%).

On the other hand, the BSE BANKEX index has moved up from 51,292.0 to 60,195.8, registering a gain of 17.4% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 48.0%), SBI (up 46.7%) and Axis Bank (up 36.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,585.2 (down 0.2%).

The top losers among the BSE Sensex today are Asian Paints (down 2.6%) and Tata Steel (down 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,567.9 (down 0.2%). Asian Paints and Bajaj Auto are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,585.2, registering a gain of 13,995.2 points (up 21.0%).

IDBI Bank Financial Update...

IDBI Bank net profit grew 37.1% YoY to Rs 16,551 million for the quarter ended March 2024, compared to a profit of Rs 12,068 million a year ago. Net sales rose 22.1% to Rs 69,947 million during the period as against Rs 57,295 million in January-March 2023.

For the year ended March 2024, IDBI Bank reported 56.2% increase in net profit to Rs 57,881 million compared to net profit of Rs 37,061 million during FY23. Revenue of the company grew 28.4% to Rs 264,457 million during FY24.

The current Price to earnings ratio of IDBI Bank, based on rolling 12 month earnings, stands at 16.9.

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