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Federal Bank Gains 3%; BSE BANKEX Index Up 0.6%
Thu, 20 Jun 15:45

Federal Bank share price has zoomed 3% and is presently trading at Rs 178.9.

Meanwhile, the BSE BANKEX index is at 58,824.8 (up 0.6%).

Among the top gainers in the BSE BANKEX index today are IDFC FIRST BANK (up 2.1%) and AU SMALL FINANCE BANK (up 1.7%).

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

Over the last one year, Federal Bank has moved up from Rs 123.1 to Rs 178.9, registering a gain of Rs 55.8 (up 45.3%).

On the other hand, the BSE BANKEX index has moved up from 49,266.1 to 58,824.8, registering a gain of 19.4% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 48.6%), Bank of Baroda (up 47.1%) and Federal Bank (up 45.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 77,478.9 (up 0.2%).

The top gainers among the BSE Sensex today are JSW Steel (up 1.7%) and Tata Steel (up 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 23,579.2 (up 0.3%). Hindalco and Grasim Industries are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,168.3 to 77,478.9, registering a gain of 14,310.6 points (up 22.7%).

Federal Bank Financial Update...

Federal Bank net profit grew 3.5% YoY to Rs 9,724 million for the quarter ended March 2024, compared to a profit of Rs 9,396 million a year ago. Net sales rose 26.5% to Rs 63,392 million during the period as against Rs 50,123 million in January-March 2023.

For the year ended March 2023, Federal Bank reported 60.7% increase in net profit to Rs 31,645 million compared to net profit of Rs 19,687 million during FY22. Revenue of the company grew 23.9% to Rs 178,118 million during FY23.

The current Price to earnings ratio of Federal Bank, based on rolling 12 month earnings, stands at 11.1.

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