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Indian Bank Gains 2%; BSE BANKEX Index Up 0.6%
Wed, 26 Jun 15:22

Indian Bank Gains 2%; BSE BANKEX Index Up 0.6%Image source: ipopba/www.istockphoto.com

Indian Bank share price has zoomed 2% and is presently trading at Rs 541.2.

Meanwhile, the BSE BANKEX index is at 60,171.8 (up 0.6%).

Among the top gainers in the BSE BANKEX index today are AU SMALL FINANCE BANK (up 1.9%) and ICICI Bank (up 1.4%).

HDFC Bank (down 0.5%) and Bank of Baroda (down 0.2%) are among the top losers today.

Over the last one year, Indian Bank has moved up from Rs 281.8 to Rs 541.2, registering a gain of Rs 259.4 (up 92.0%).

On the other hand, the BSE BANKEX index has moved up from 49,297.0 to 60,171.8, registering a gain of 22.1% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 51.8%), Bank of Baroda (up 46.7%) and Federal Bank (up 46.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,704.3 (up 0.8%).

The top gainers among the BSE Sensex today are Reliance Ind. (up 4.4%) and Bharti Airtel (up 3.2%). The most traded stocks in the BSE Sensex are Tata Steel and Reliance Ind..

In the meantime, NSE Nifty is at 23,877.2 (up 0.7%). Reliance Ind. and Bharti Airtel are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,970.0 to 78,704.3, registering a gain of 15,734.3 points (up 25.0%).

Indian Bank Financial Update...

Indian Bank net profit grew 54.6% YoY to Rs 22,603 million for the quarter ended March 2024, compared to a profit of Rs 14,620 million a year ago. Net sales rose 19.4% to Rs 146,334 million during the period as against Rs 122,553 million in January-March 2023.

For the year ended March 2024, Indian Bank reported 51.1% increase in net profit to Rs 84,194 million compared to net profit of Rs 55,723 million during FY23. Revenue of the company grew 23.7% to Rs 556,497 million during FY24.

The current Price to earnings ratio of Indian Bank, based on rolling 12 month earnings, stands at 9.0.

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