INDUSIND BANK Plunges by 5%; BSE BANKEX Index Down 1.0%

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INDUSIND BANK share price has plunged 5% and is presently trading at Rs 1,495.

Meanwhile, the BSE BANKEX Index is at 34,849 (down 1.0%).

Among the top losers in the BSE BANKEX Index today is INDUSIND BANK (down 5.0%).

FEDERAL BANK (up 0.2%) is among the top gainer today.

Over the last one year, INDUSIND BANK has moved down from Rs 1,947 to Rs 1,495, registering a loss of Rs 452 (down 23.2%)..

The BSE BANKEX has moved up from 29,895 to 34,849, registering a gain of 4,954 points (up 16.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 51.0%), ICICI BANK (up 43.8%) and CITY UNION BANK (up 29.6%).

What About the Benchmark Indices?

The BSE Sensex is at 39,800 (down 0.5%). The top gainers among the BSE Sensex stocks today are POWER GRID (up 1.0%). The most traded stocks in the BSE Sensex are L&T and POWER GRID.

In the meantime, NSE Nifty is at 11,912 (down 0.5%). BHARTI INFRATEL (up 0.9%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,739 to 39,800, registering a gain of 4,061 points (up 10.6%).

INDUSIND BANK Financial Update…

INDUSIND BANK net profit down at Rs 4 billion for the quarter ended March 2019, compared to a loss of Rs 10 billion a year ago. Operating income rose 4.0% to Rs 59.9 billion during the period as against Rs 57.6 billion in January-March 2018.

For the year ended March 2018, INDUSIND BANK reported 25.7% increase in net profit to Rs 36.1 billion compared to net profit of Rs 28.7 billion during FY17.

Revenue of the company grew 20.0% to Rs 173 billion during FY18.

The current Price to earnings ratio of INDUSIND BANK, based on rolling 12 month earnings, stands at 25.7x. p >

This article (INDUSIND BANK Plunges by 5%; BSE BANKEX Index Down 1.0%) is authored by Equitymaster.

Equitymaster is a leading ‘independent’ equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

Source: equitymaster.com

Post Author: kwiknewz

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