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Punjab & Sind Bank Gains 6%; BSE BANKEX Index Up 0.7%
Mon, 23 Sep 15:14

Punjab & Sind Bank Gains 6%; BSE BANKEX Index Up 0.7%Image source: alexsl/www.istockphoto.com

Punjab & Sind Bank share price has zoomed 6% and is presently trading at Rs 57.4.

Meanwhile, the BSE BANKEX index is at 61,371.9 (up 0.7%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 3.9%) and SBI (up 2.6%).

ICICI Bank (down 1.2%) and Indusind Bank (down 0.9%) are among the top losers today.

Over the last one year, Punjab & Sind Bank has moved up from Rs 47.5 to Rs 57.4, registering a gain of Rs 9.9 (up 20.8%).

On the other hand, the BSE BANKEX index has moved up from 51,067.0 to 61,371.9, registering a gain of 20.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were ICICI Bank (up 34.2%), SBI (up 33.5%) and Federal Bank (up 28.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 84,955.6 (up 0.5%).

The top gainers among the BSE Sensex today are M&M (up 3.3%) and SBI (up 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and ICICI Bank.

In the meantime, NSE Nifty is at 25,951.1 (up 0.6%). M&M and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 84,955.6, registering a gain of 18,154.8 points (up 27.2%).

Punjab & Sind Bank Financial Update...

Punjab & Sind Bank net profit grew 18.9% YoY to Rs 1,815 million for the quarter ended June 2024, compared to a profit of Rs 1,527 million a year ago. Net sales rose 14.5% to Rs 26,523 million during the period as against Rs 23,158 million in April-June 2023.

For the year ended March 2024, Punjab & Sind Bank reported 54.7% decrease in net profit to Rs 5,954 million compared to net profit of Rs 13,130 million during FY23. Revenue of the company grew 21.3% to Rs 96,940 million during FY24.

The current Price to earnings ratio of Punjab & Sind Bank, based on rolling 12 month earnings, stands at 62.4.


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