Indian Bank share price has plunged 4% and is presently trading at Rs 572.4.
Meanwhile, the BSE BANKEX index is at 57,355.1 (down 1.9%).
Among the top losers in the BSE BANKEX index today are Bank of Baroda (down 2.6%) and SBI (down 2.5%).
Over the last one year, Indian Bank has moved up from Rs 347.4 to Rs 572.4, registering a gain of Rs 225.0 (up 64.8%).
On the other hand, the BSE BANKEX index has moved up from 51,331.3 to 57,355.1, registering a gain of 11.7% during the last 12 months.
The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 43.0%), SBI (up 35.1%) and Axis Bank (up 18.6%).
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The BSE Sensex is at 79,511.8 (down 1.8%).
The top losers among the BSE Sensex today are Tata Motors (down 4.2%) and JSW Steel (down 3.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.
In the meantime, NSE Nifty is at 24,271.9 (down 1.8%). Tata Motors and Hindalco are among the top losers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 79,511.8, registering a gain of 13,052.5 points (up 19.6%).
Indian Bank net profit grew 40.2% YoY to Rs 24,173 million for the quarter ended June 2024, compared to a profit of Rs 17,244 million a year ago. Net sales rose 15.3% to Rs 150,406 million during the period as against Rs 130,499 million in April-June 2023.
For the year ended March 2024, Indian Bank reported 51.1% increase in net profit to Rs 84,194 million compared to net profit of Rs 55,723 million during FY23. Revenue of the company grew 23.7% to Rs 556,497 million during FY24.
The current Price to earnings ratio of Indian Bank, based on rolling 12 month earnings, stands at 8.7.
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