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Punjab & Sind Bank Gains 7%; BSE BANKEX Index Up 0.5%
Mon, 29 Jul 9:20

Punjab & Sind Bank Gains 7%; BSE BANKEX Index Up 0.5%Image source: Sefa Ozel/www.istockphoto.com

Punjab & Sind Bank share price has zoomed 7% and is presently trading at Rs 70.5.

Meanwhile, the BSE BANKEX index is at 58,936.0 (up 0.5%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 1.6%) and AU SMALL FINANCE BANK (up 1.6%).

IDFC FIRST BANK (down 3.0%) and HDFC Bank (down 0.5%) are among the top losers today.

Over the last one year, Punjab & Sind Bank has moved up from Rs 33.1 to Rs 70.5, registering a gain of Rs 37.4 (up 112.9%).

On the other hand, the BSE BANKEX index has moved up from 51,646.9 to 58,936.0, registering a gain of 14.1% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 50.7%), SBI (up 42.2%) and Bank of Baroda (up 29.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,695.1 (up 0.4%).

The top gainers among the BSE Sensex today are NTPC (up 2.0%) and Tata Steel (up 1.4%). The most traded stocks in the BSE Sensex are ICICI Bank and Bharti Airtel.

In the meantime, NSE Nifty is at 24,932.1 (up 0.4%). NTPC and IOC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,355.7 to 81,695.1, registering a gain of 15,339.3 points (up 23.1%).

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 76.5.


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