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Federal Bank Gains 3%; BSE BANKEX Index Up 0.9%
Mon, 14 Oct 13:48

Federal Bank Gains 3%; BSE BANKEX Index Up 0.9%Image source: Chunumunu/www.istockphoto.com

Federal Bank share price has zoomed 3% and is presently trading at Rs 193.0.

Meanwhile, the BSE BANKEX index is at 58,782.9 (up 0.9%).

Among the top gainers in the BSE BANKEX index today are HDFC Bank (up 2.2%) and Kotak Bank (up 1.4%).

Axis Bank (down 1.0%) is among the top losers today.

Over the last one year, Federal Bank has moved up from Rs 148.0 to Rs 193.0, registering a gain of Rs 45.1 (up 30.4%).

On the other hand, the BSE BANKEX index has moved up from 49,945.0 to 58,782.9, registering a gain of 17.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 35.8%), Federal Bank (up 30.4%) and ICICI Bank (up 29.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,953.8 (up 0.7%).

The top gainers among the BSE Sensex today are Tech Mahindra (up 2.7%) and L&T (up 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,112.6 (up 0.6%). Wipro and L&T are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,079.4 to 81,953.8, registering a gain of 15,874.4 points (up 24.0%).

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 11.6.


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