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City Union Bank Gains 3%; BSE BANKEX Index Down 0.1%
Tue, 26 Nov 14:50

City Union Bank Gains 3%; BSE BANKEX Index Down 0.1%Image source: Sefa Ozel/www.istockphoto.com

City Union Bank share price has zoomed 3% and is presently trading at Rs 178.9.

Meanwhile, the BSE BANKEX index is at 59,427.6 (down 0.1%).

Among the top gainers in the BSE BANKEX index today are Indusind Bank (up 0.7%) and IDFC FIRST BANK (up 0.7%).

Axis Bank (down 0.9%) and AU SMALL FINANCE BANK (down 0.7%) are among the top losers today.

Over the last one year, City Union Bank has moved up from Rs 148.8 to Rs 178.9, registering a gain of Rs 30.2 (up 20.3%).

On the other hand, the BSE BANKEX index has moved up from 49,028.0 to 59,427.6, registering a gain of 21.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 50.1%), Federal Bank (up 46.3%) and ICICI Bank (up 41.4%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,085.8 .

The top losers among the BSE Sensex today are Ultratech Cement (down 2.8%) and MUNDRA PORT & SEZ (down 2.7%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,223.5 . Shriram Transport and Bharat Electronics are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,023.2 to 80,085.8, registering a gain of 14,062.5 points (up 21.3%).

City Union Bank Financial Update...

City Union Bank net profit grew 1.6% YoY to Rs 2,852 million for the quarter ended September 2024, compared to a profit of Rs 2,806 million a year ago. Net sales rose 10.0% to Rs 14,339 million during the period as against Rs 13,040 million in July-September 2023.

For the year ended March 2024, City Union Bank reported 8.3% increase in net profit to Rs 10,157 million compared to net profit of Rs 9,375 million during FY23. Revenue of the company grew 11.8% to Rs 52,706 million during FY24.

The current Price to earnings ratio of City Union Bank, based on rolling 12 month earnings, stands at 12.5.


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