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Punjab & Sind Bank Gains 7%; BSE BANKEX Index Down 1.0%
Wed, 24 Jul 16:9

Punjab & Sind Bank Gains 7%; BSE BANKEX Index Down 1.0%Image source: phive2015/www.istockphoto.com

Punjab & Sind Bank share price has zoomed 7% and is presently trading at Rs 65.4.

Meanwhile, the BSE BANKEX index is at 58,784.0 (down 1.0%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 2.3%) and AU SMALL FINANCE BANK (up 0.7%).

Kotak Bank (down 1.4%) and SBI (down 1.3%) are among the top losers today.

Over the last one year, Punjab & Sind Bank has moved up from Rs 34.5 to Rs 65.4, registering a gain of Rs 30.9 (up 89.5%).

On the other hand, the BSE BANKEX index has moved up from 51,837.0 to 58,784.0, registering a gain of 13.4% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 51.2%), SBI (up 38.0%) and Axis Bank (up 28.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,148.9 (down 0.3%).

The top losers among the BSE Sensex today are Bajaj Finserv (down 2.4%) and Bajaj Finance (down 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,413.5 (down 0.3%). Bajaj Finserv and Tata Consumer Products are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,148.9, registering a gain of 13,764.1 points (up 20.7%).

Punjab & Sind Bank Financial Update...

Punjab & Sind Bank net profit fell 69.5% YoY to Rs 1,394 million for the quarter ended March 2024, compared to a profit of Rs 4,570 million a year ago. Net sales rose 17.9% to Rs 24,813 million during the period as against Rs 21,049 million in January-March 2023.

For the year ended March 2024, Punjab & Sind Bank reported 54.7% decrease in net profit to Rs 5,954 million compared to net profit of Rs 13,130 million during FY23. Revenue of the company grew 21.3% to Rs 96,940 million during FY24.

The current Price to earnings ratio of Punjab & Sind Bank, based on rolling 12 month earnings, stands at 74.4.


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