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IDBI Bank Gains 7%; BSE BANKEX Index Up 0.1%
Fri, 13 Sep 13:47

IDBI Bank Gains 7%; BSE BANKEX Index Up 0.1%Image source: asbe/www.istockphoto.com

IDBI Bank share price has zoomed 7% and is presently trading at Rs 94.1.

Meanwhile, the BSE BANKEX index is at 58,794.6 (up 0.1%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 1.6%) and Indusind Bank (up 1.3%).

HDFC Bank (down 0.5%) and Kotak Bank (down 0.3%) are among the top losers today.

Over the last one year, IDBI Bank has moved up from Rs 70.1 to Rs 94.1, registering a gain of Rs 23.9 (up 34.1%).

On the other hand, the BSE BANKEX index has moved up from 51,107.6 to 58,794.6, registering a gain of 15.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 33.9%), ICICI Bank (up 27.6%) and Federal Bank (up 25.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,876.0 (down 0.1%).

The top losers among the BSE Sensex today are ITC (down 1.3%) and MUNDRA PORT & SEZ (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,364.8 (down 0.1%). SBI LIFE INSURANCE and HDFC LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,127.1 to 82,876.0, registering a gain of 15,749.0 points (up 23.5%).

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 16.1.

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