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Indusind Bank Plunges 2%; BSE BANKEX Index Down 1.2%
Tue, 2 Jul 13:15

Indusind Bank Plunges 2%; BSE BANKEX Index Down 1.2%Image source: Sakorn BernardaSv/www.istockphoto.com

Indusind Bank share price has plunged 2% and is presently trading at Rs 1,422.8.

Meanwhile, the BSE BANKEX index is at 59,149.1 (down 1.2%).

Among the top losers in the BSE BANKEX index today are Kotak Bank (down 3.8%) and IDFC FIRST BANK (down 3.2%).

HDFC Bank (up 1.3%) is among the top gainers today.

Over the last one year, Indusind Bank has moved up from Rs 1,334.0 to Rs 1,422.8, registering a gain of Rs 88.8 (up 6.7%).

On the other hand, the BSE BANKEX index has moved up from 50,107.1 to 59,149.1, registering a gain of 18.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 45.3%), Federal Bank (up 42.6%) and Bank of Baroda (up 39.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,319.8 (down 0.2%).

The top losers among the BSE Sensex today are Kotak Bank (down 3.8%) and Tata Motors (down 1.9%). 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 79,319.8, registering a gain of 15,404.3 points (up 24.1%).

Indusind Bank Financial Update...

Indusind Bank net profit grew 15.0% YoY to Rs 23,491 million for the quarter ended March 2024, compared to a profit of Rs 20,434 million a year ago. Net sales rose 21.7% to Rs 121,985 million during the period as against Rs 100,207 million in January-March 2023.

For the year ended March 2023, Indusind Bank reported 54.9% increase in net profit to Rs 74,435 million compared to net profit of Rs 48,050 million during FY22. Revenue of the company grew 18.0% to Rs 363,679 million during FY23.

The current Price to earnings ratio of Indusind Bank, based on rolling 12 month earnings, stands at 12.3.


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