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IDFC FIRST BANK Plunges 3%; BSE BANKEX Index Down 0.2%
Wed, 23 Oct 9:47

IDFC FIRST BANK Plunges 3%; BSE BANKEX Index Down 0.2%Image source: CreativaImages/www.istockphoto.com

IDFC FIRST BANK share price has plunged 3% and is presently trading at Rs 66.5.

Meanwhile, the BSE BANKEX index is at 58,200.7 (down 0.2%).

Among the top losers in the BSE BANKEX index today are Bank of Baroda (down 1.6%) and SBI (down 1.2%).

HDFC Bank (up 1.2%) and Kotak Bank (up 0.4%) are among the top gainers today.

Over the last one year, IDFC FIRST BANK has moved down from Rs 86.5 to Rs 66.5, registering a loss of Rs 20.0 (down 23.1%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 58,200.7, registering a gain of 20.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.2%), ICICI Bank (up 35.1%) and Federal Bank (up 31.7%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,039.1 (down 0.2%).

The top losers among the BSE Sensex today are NTPC (down 2.6%) and Power Grid Corp. (down 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,407.8 (down 0.3%). IOC and NTPC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,039.1, registering a gain of 15,467.2 points (up 24.0%).

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit fell 12.1% YoY to Rs 6,426 million for the quarter ended June 2024, compared to a profit of Rs 7,315 million a year ago. Net sales rose 27.9% to Rs 87,887 million during the period as against Rs 68,689 million in April-June 2023.

For the year ended March 2024, IDFC FIRST BANK reported 18.4% increase in net profit to Rs 29,424 million compared to net profit of Rs 24,849 million during FY23. Revenue of the company grew 33.4% to Rs 303,251 million during FY24.

The current Price to earnings ratio of IDFC FIRST BANK, based on rolling 12 month earnings, stands at 17.1.

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