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South Ind.Bank Gains 5%; BSE BANKEX Index Down 0.2%
Wed, 16 Oct 15:16

South Ind.Bank Gains 5%; BSE BANKEX Index Down 0.2%Image source: ipopba/www.istockphoto.com

South Ind.Bank share price has zoomed 5% and is presently trading at Rs 25.6.

Meanwhile, the BSE BANKEX index is at 58,790.7 (down 0.2%).

Among the top gainers in the BSE BANKEX index today are HDFC Bank (up 0.9%) and AU SMALL FINANCE BANK (up 0.3%).

Federal Bank (down 2.2%) and Kotak Bank (down 1.0%) are among the top losers today.

Over the last one year, South Ind.Bank has moved up from Rs 24.4 to Rs 25.6, registering a gain of Rs 1.2 (up 5.0%).

On the other hand, the BSE BANKEX index has moved up from 49,714.3 to 58,790.7, registering a gain of 18.3% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 39.8%), Federal Bank (up 30.9%) and ICICI Bank (up 30.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,581.6 (down 0.3%).

The top losers among the BSE Sensex today are M&M (down 2.5%) and Infosys (down 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,968.2 (down 0.4%). Trent and M&M are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 81,581.6, registering a gain of 15,414.7 points (up 23.3%).

South Ind.Bank Financial Update...

South Ind.Bank net profit grew 45.1% YoY to Rs 2,939 million for the quarter ended June 2024, compared to a profit of Rs 2,026 million a year ago. Net sales rose 14.3% to Rs 23,144 million during the period as against Rs 20,250 million in April-June 2023.

For the year ended March 2024, South Ind.Bank reported 38.0% increase in net profit to Rs 10,702 million compared to net profit of Rs 7,753 million during FY23. Revenue of the company grew 19.1% to Rs 86,128 million during FY24.

The current Price to earnings ratio of South Ind.Bank, based on rolling 12 month earnings, stands at 5.8.

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