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IDFC FIRST BANK Plunges 7%; BSE BANKEX Index Up 0.8%
Mon, 28 Oct 9:16

IDFC FIRST BANK Plunges 7%; BSE BANKEX Index Up 0.8%Image source: Chunumunu/www.istockphoto.com

IDFC FIRST BANK share price has plunged 7% and is presently trading at Rs 60.6.

Meanwhile, the BSE BANKEX index is at 58,410.9 (up 0.8%).

Among the top losers in the BSE BANKEX index today are Federal Bank (down 0.5%) and HDFC Bank (down 0.2%).

ICICI Bank (up 2.6%) and Indusind Bank (up 1.1%) are among the top gainers today.

Over the last one year, IDFC FIRST BANK has moved down from Rs 87.2 to Rs 60.6, registering a loss of Rs 26.6 (down 30.5%).

On the other hand, the BSE BANKEX index has moved up from 48,173.3 to 58,410.9, registering a gain of 21.3% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 40.8%), ICICI Bank (up 40.6%) and Federal Bank (up 30.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,653.7 (up 0.3%).

The top gainers among the BSE Sensex today are ICICI Bank (up 2.6%) and Indusind Bank (up 1.1%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,251.1 (up 0.3%). ICICI Bank and Shriram Transport are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,049.1 to 79,653.7, registering a gain of 15,604.6 points (up 24.4%).

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit fell 71.6% YoY to Rs 2,119 million for the quarter ended September 2024, compared to a profit of Rs 7,469 million a year ago. Net sales rose 21.8% to Rs 89,570 million during the period as against Rs 73,563 million in July-September 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 19.1.

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