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Bank of Maharashtra Gains 8%; BSE BANKEX Index Up 0.7%
Mon, 23 Sep 15:13

Bank of Maharashtra Gains 8%; BSE BANKEX Index Up 0.7%Image source: asbe/www.istockphoto.com

Bank of Maharashtra share price has zoomed 8% and is presently trading at Rs 63.0.

Meanwhile, the BSE BANKEX index is at 61,377.5 (up 0.7%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 3.9%) and SBI (up 2.7%).

ICICI Bank (down 1.1%) and Indusind Bank (down 0.8%) are among the top losers today.

Over the last one year, Bank of Maharashtra has moved up from Rs 46.3 to Rs 63.0, registering a gain of Rs 16.7 (up 36.2%).

On the other hand, the BSE BANKEX index has moved up from 51,067.0 to 61,377.5, registering a gain of 20.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were ICICI Bank (up 34.2%), SBI (up 33.6%) and Federal Bank (up 28.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 84,944.4 (up 0.5%).

The top gainers among the BSE Sensex today are M&M (up 3.3%) and SBI (up 2.7%). The most traded stocks in the BSE Sensex are Tata Steel and ICICI Bank.

In the meantime, NSE Nifty is at 25,951.1 (up 0.6%). M&M and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 84,944.4, registering a gain of 18,143.5 points (up 27.2%).

Bank of Maharashtra Financial Update...

Bank of Maharashtra net profit grew 46.6% YoY to Rs 12,937 million for the quarter ended June 2024, compared to a profit of Rs 8,825 million a year ago. Net sales rose 22.7% to Rs 58,747 million during the period as against Rs 47,887 million in April-June 2023.

For the year ended March 2024, Bank of Maharashtra reported 56.3% increase in net profit to Rs 40,718 million compared to net profit of Rs 26,050 million during FY23. Revenue of the company grew 28.9% to Rs 204,948 million during FY24.

The current Price to earnings ratio of Bank of Maharashtra, based on rolling 12 month earnings, stands at 10.0.

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