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IDFC FIRST BANK Gains 3%; BSE BANKEX Index Up 1.8%
Wed, 3 Jul 15:25

IDFC FIRST BANK Gains 3%; BSE BANKEX Index Up 1.8%Image source: Sefa Ozel/www.istockphoto.com

IDFC FIRST BANK share price has zoomed 3% and is presently trading at Rs 80.9.

Meanwhile, the BSE BANKEX index is at 60,382.6 (up 1.8%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 3.8%) and Kotak Bank (up 2.4%).

AU SMALL FINANCE BANK (down 1.4%) is among the top losers today.

Over the last one year, IDFC FIRST BANK has moved down from Rs 81.9 to Rs 80.9, registering a loss of Rs 1.1 (down 1.3%).

On the other hand, the BSE BANKEX index has moved up from 50,894.9 to 60,382.6, registering a gain of 18.6% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 43.6%), Federal Bank (up 42.4%) and Bank of Baroda (up 34.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,010.5 (up 0.7%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 2.6%) and Kotak Bank (up 2.4%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.

In the meantime, NSE Nifty is at 24,293.4 (up 0.7%). Tata Consumer Products and Kotak Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,010.5, registering a gain of 14,805.4 points (up 22.7%).

IDFC FIRST BANK Financial Update...

IDFC FIRST BANK net profit fell 10.3% YoY to Rs 7,319 million for the quarter ended March 2024, compared to a profit of Rs 8,161 million a year ago. Net sales rose 28.0% to Rs 82,205 million during the period as against Rs 64,244 million in January-March 2023.

For the year ended March 2023, IDFC FIRST BANK reported 1778.2% increase in net profit to Rs 24,849 million compared to net profit of Rs 1,323 million during FY22. Revenue of the company grew 32.3% to Rs 227,278 million during FY23.

The current Price to earnings ratio of IDFC FIRST BANK, based on rolling 12 month earnings, stands at 19.5.

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