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IDBI Bank Gains 7%; BSE BANKEX Index Up 2.0%
Mon, 25 Nov 10:38

IDBI Bank Gains 7%; BSE BANKEX Index Up 2.0%Image source: Chunumunu/www.istockphoto.com

IDBI Bank share price has zoomed 7% and is presently trading at Rs 82.0.

Meanwhile, the BSE BANKEX index is at 59,474.4 (up 2.0%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 4.8%) and SBI (up 3.6%).

Over the last one year, IDBI Bank has moved up from Rs 62.3 to Rs 82.0, registering a gain of Rs 19.7 (up 31.7%).

On the other hand, the BSE BANKEX index has moved up from 49,253.5 to 59,474.4, registering a gain of 20.8% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 50.7%), Federal Bank (up 43.7%) and ICICI Bank (up 41.1%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,396.7 (up 1.6%).

The top gainers among the BSE Sensex today are L&T (up 3.8%) and SBI (up 3.6%). The most traded stocks in the BSE Sensex are Power Grid Corp. and Tata Steel.

In the meantime, NSE Nifty is at 24,320.0 (up 1.7%). Bharat Electronics and BPCL are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,930.8 to 80,396.7, registering a gain of 14,465.9 points (up 21.9%).

IDBI Bank Financial Update...

IDBI Bank net profit grew 32.7% YoY to Rs 18,487 million for the quarter ended September 2024, compared to a profit of Rs 13,932 million a year ago. Net sales rose 23.3% to Rs 74,450 million during the period as against Rs 60,384 million in July-September 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 13.1.

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