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Federal Bank Plunges 5%; BSE BANKEX Index Down 1.8%
Mon, 7 Oct 14:44

Federal Bank Plunges 5%; BSE BANKEX Index Down 1.8%Image source: asbe/www.istockphoto.com

Federal Bank share price has plunged 5% and is presently trading at Rs 183.8.

Meanwhile, the BSE BANKEX index is at 57,361.5 (down 1.8%).

Among the top losers in the BSE BANKEX index today are Bank of Baroda (down 3.6%) and SBI (down 3.2%).

AU SMALL FINANCE BANK (up 1.4%) is among the top gainers today.

Over the last one year, Federal Bank has moved up from Rs 150.6 to Rs 183.8, registering a gain of Rs 33.2 (up 22.0%).

On the other hand, the BSE BANKEX index has moved up from 50,007.8 to 57,361.5, registering a gain of 14.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were ICICI Bank (up 31.4%), SBI (up 27.9%) and Federal Bank (up 22.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,978.5 (down 0.9%).

The top losers among the BSE Sensex today are NTPC (down 4.6%) and MUNDRA PORT & SEZ (down 4.4%). The most traded stocks in the BSE Sensex are Tata Steel and Axis Bank.

In the meantime, NSE Nifty is at 24,748.4 (down 1.1%). NTPC and MUNDRA PORT & SEZ are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 80,978.5, registering a gain of 15,466.4 points (up 23.6%).

Federal Bank Financial Update...

Federal Bank net profit grew 16.6% YoY to Rs 10,400 million for the quarter ended June 2024, compared to a profit of Rs 8,917 million a year ago. Net sales rose 25.8% to Rs 67,276 million during the period as against Rs 53,498 million in April-June 2023.

For the year ended March 2024, Federal Bank reported 21.3% increase in net profit to Rs 38,379 million compared to net profit of Rs 31,645 million during FY23. Revenue of the company grew 32.3% to Rs 235,655 million during FY24.

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

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