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Indian Bank Plunges 3%; BSE BANKEX Index Down 0.2%
Wed, 14 Aug 11:48

Indian Bank Plunges 3%; BSE BANKEX Index Down 0.2%Image source: DNY59/www.istockphoto.com

Indian Bank share price has plunged 3% and is presently trading at Rs 532.3.

Meanwhile, the BSE BANKEX index is at 56,705.4 (down 0.2%).

Among the top losers in the BSE BANKEX index today are ICICI Bank (down 0.9%) and Bank of Baroda (down 0.8%).

SBI (up 1.0%) and Federal Bank (up 0.5%) are among the top gainers today.

Over the last one year, Indian Bank has moved up from Rs 391.4 to Rs 532.3, registering a gain of Rs 140.9 (up 36.0%).

On the other hand, the BSE BANKEX index has moved up from 49,462.3 to 56,705.4, registering a gain of 14.6% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 52.7%), SBI (up 43.6%) and Bank of Baroda (up 26.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,035.1 (up 0.1%).

The top gainers among the BSE Sensex today are TCS (up 2.1%) and Tech Mahindra (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and Infosys.

In the meantime, NSE Nifty is at 24,136.5 . Coal India and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 79,035.1, registering a gain of 13,633.1 points (up 20.8%).

Indian Bank Financial Update...

Indian Bank net profit grew 40.2% YoY to Rs 24,173 million for the quarter ended June 2024, compared to a profit of Rs 17,244 million a year ago. Net sales rose 15.3% to Rs 150,406 million during the period as against Rs 130,499 million in April-June 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 8.1.

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