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IDFC FIRST BANK Plunges 3%; BSE BANKEX Index Down 1.1%
Tue, 2 Jul 13:14

IDFC FIRST BANK Plunges 3%; BSE BANKEX Index Down 1.1%Image source: Nikada/www.istockphoto.com

IDFC FIRST BANK share price has plunged 3% and is presently trading at Rs 78.6.

Meanwhile, the BSE BANKEX index is at 59,172.4 (down 1.1%).

Among the top losers in the BSE BANKEX index today are Kotak Bank (down 3.8%) and Bank of Baroda (down 2.5%).

HDFC Bank (up 1.4%) is among the top gainers today.

Over the last one year, IDFC FIRST BANK has moved down from Rs 79.8 to Rs 78.6, registering a loss of Rs 1.2 (down 1.5%).

On the other hand, the BSE BANKEX index has moved up from 50,107.1 to 59,172.4, registering a gain of 18.1% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 45.2%), Federal Bank (up 42.8%) and Bank of Baroda (up 39.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,361.0 (down 0.1%).

The top losers among the BSE Sensex today are Kotak Bank (down 3.8%) and Indusind Bank (down 2.3%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,089.9 (down 0.2%). Kotak Bank and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,361.0, registering a gain of 15,445.6 points (up 24.2%).

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit fell 10.3% YoY to Rs 7,319 million for the quarter ended March 2024, compared to a profit of Rs 8,161 million a year ago. Net sales rose 28.0% to Rs 82,205 million during the period as against Rs 64,244 million in January-March 2023.

For the year ended March 2023, IDFC FIRST BANK reported 1778.2% increase in net profit to Rs 24,849 million compared to net profit of Rs 1,323 million during FY22. Revenue of the company grew 32.3% to Rs 227,278 million during FY23.

The current Price to earnings ratio of IDFC FIRST BANK, based on rolling 12 month earnings, stands at 18.9.

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