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IDBI Bank Gains 3%; BSE BANKEX Index Up 0.5%
Thu, 22 Aug 15:5

IDBI Bank Gains 3%; BSE BANKEX Index Up 0.5%Image source: Ivcandy/www.istockphoto.com

IDBI Bank share price has zoomed 3% and is presently trading at Rs 99.9.

Meanwhile, the BSE BANKEX index is at 58,072.4 (up 0.5%).

Among the top gainers in the BSE BANKEX index today are IDFC FIRST BANK (up 2.0%) and ICICI Bank (up 1.3%).

Axis Bank (down 0.3%) and Federal Bank (down 0.1%) are among the top losers today.

Over the last one year, IDBI Bank has moved up from Rs 60.7 to Rs 99.9, registering a gain of Rs 39.2 (up 64.7%).

On the other hand, the BSE BANKEX index has moved up from 49,390.7 to 58,072.4, registering a gain of 17.6% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 51.1%), SBI (up 43.6%) and Bank of Baroda (up 33.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,041.1 (up 0.2%).

The top gainers among the BSE Sensex today are Bharti Airtel (up 1.6%) and Tata Steel (up 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.

In the meantime, NSE Nifty is at 24,810.1 (up 0.2%). Grasim Industries and Tata Consumer Products are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,216.1 to 81,041.1, registering a gain of 15,825.1 points (up 24.3%).

IDBI Bank Financial Update...

IDBI Bank net profit grew 40.9% YoY to Rs 17,392 million for the quarter ended June 2024, compared to a profit of Rs 12,343 million a year ago. Net sales declined 2.8% to Rs 66,698 million during the period as against Rs 68,636 million in April-June 2023.

For the year ended March 2024, IDBI Bank reported 56.2% increase in net profit to Rs 57,881 million compared to net profit of Rs 37,061 million during FY23. Revenue of the company grew 28.4% to Rs 264,457 million during FY24.

The current Price to earnings ratio of IDBI Bank, based on rolling 12 month earnings, stands at 17.1.

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