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Indusind Bank Plunges 3%; BSE BANKEX Index Up 0.6%
Wed, 7 Aug 14:57

Indusind Bank Plunges 3%; BSE BANKEX Index Up 0.6%Image source: KanawatTH/www.istockphoto.com

Indusind Bank share price has plunged 3% and is presently trading at Rs 1,342.7.

Meanwhile, the BSE BANKEX index is at 56,847.5 (up 0.6%).

Among the top losers in the BSE BANKEX index today is AU SMALL FINANCE BANK (down 0.8%).

Bank of Baroda (up 1.1%) and HDFC Bank (up 1.1%) are among the top gainers today.

Over the last one year, Indusind Bank has moved down from Rs 1,414.6 to Rs 1,342.7, registering a loss of Rs 71.9 (down 5.1%).

On the other hand, the BSE BANKEX index has moved up from 50,325.8 to 56,847.5, registering a gain of 13.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 43.3%), SBI (up 42.1%) and Bank of Baroda (up 27.8%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 79,303.2 (up 0.9%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 3.2%) and MUNDRA PORT & SEZ (up 2.8%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,247.9 (up 1.1%). ONGC and Coal India are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,303.2, registering a gain of 13,349.7 points (up 20.2%).

Indusind Bank Financial Update...

Indusind Bank net profit grew 2.2% YoY to Rs 21,707 million for the quarter ended June 2024, compared to a profit of Rs 21,244 million a year ago. Net sales rose 16.9% to Rs 125,468 million during the period as against Rs 107,297 million in April-June 2023.

For the year ended March 2024, Indusind Bank reported 20.6% increase in net profit to Rs 89,773 million compared to net profit of Rs 74,435 million during FY23. Revenue of the company grew 25.8% to Rs 457,482 million during FY24.

The current Price to earnings ratio of Indusind Bank, based on rolling 12 month earnings, stands at 11.6.

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