SYNDICATE BANK Surges by 5%; BSE BANKEX Index Up 3.3%

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SYNDICATE BANK share price has zoomed 5% and is presently trading at Rs 37.

Meanwhile, the BSE BANKEX Index is at 35,336 (up 3.3%).

Among the top Gainers in the BSE BANKEX Index today are SYNDICATE BANK (up 5.2%) and INDUSIND BANK (up 6.3%).

Over the last one year, SYNDICATE BANK has moved down from Rs 46 to Rs 37, registering a loss of Rs 10 (down 21.2%).

On the other hand, the BSE BANKEX has moved up from 28,924 to 35,336, registering a gain of 6,412 points (up 22.2%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 52.9%), ICICI BANK (up 45.1%) and SBI (up 40.4%).

What About the Benchmark Indices?

The BSE Sensex is at 39,902 (up 1.8%).

The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 6.3%), YES BANK (up 4.8%) and SBI (up 4.7%). Other gainers include ICICI BANK (up 4.1%) and L&T (up 4.0%). The most traded stocks in the BSE Sensex are YES BANK and SBI.

In the meantime, NSE Nifty is at 11,969 (up 1.8%). ADANI PORTS & SEZ (up 8.2%) and INDUSIND BANK (up 6.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,651 to 39,902, registering a gain of 5,251 points (up 15.0%).

SYNDICATE BANK Financial Update…

SYNDICATE BANK net profit stood at Rs 1 billion for the quarter ended March 2019, compared to a profit of Rs 1 billion a year ago. Operating income rose 2.8% to Rs 56.1 billion during the period as against Rs 54.6 billion in January-March 2018.

For the year ended March 2018, SYNDICATE BANK reported 990.1% decrease in net profit to Rs 32.2 billion compared to net profit of Rs 3.6 billion during FY17.

Revenue of the company grew 5.3% to Rs 218 billion during FY18.

The current Price to earnings ratio of SYNDICATE BANK, based on rolling 12 month earnings, stands at down 20.0x. p >

This article (SYNDICATE BANK Surges by 5%; BSE BANKEX Index Up 3.3%) 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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