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IDBI Bank Gains 3%; BSE BANKEX Index Up 0.8%
Fri, 9 Aug 13:28

IDBI Bank Gains 3%; BSE BANKEX Index Up 0.8%Image source: StarLineArts/www.istockphoto.com

IDBI Bank share price has zoomed 3% and is presently trading at Rs 97.6.

Meanwhile, the BSE BANKEX index is at 57,477.2 (up 0.8%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 1.5%) and Bank of Baroda (up 1.5%).

Indusind Bank (down 0.2%) and AU SMALL FINANCE BANK are among the top losers today.

Over the last one year, IDBI Bank has moved up from Rs 65.3 to Rs 97.6, registering a gain of Rs 32.3 (up 49.6%).

On the other hand, the BSE BANKEX index has moved up from 50,325.8 to 57,477.2, registering a gain of 14.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 46.8%), SBI (up 43.4%) and Bank of Baroda (up 29.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,705.0 (up 1.0%).

The top gainers among the BSE Sensex today are Tata Motors (up 2.9%) and JSW Steel (up 2.8%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,361.3 (up 1.0%). Eicher Motor and Grasim Industries are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,705.0, registering a gain of 13,751.5 points (up 20.9%).

IDBI Bank Financial Update...

IDBI Bank net profit grew 40.9% YoY to Rs 17,392 million for the quarter ended June 2024, compared to a profit of Rs 12,343 million a year ago. Net sales declined 2.8% to Rs 66,698 million during the period as against Rs 68,636 million in April-June 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 16.7.

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