BANK OF MAHARASHTRA Surges by 5%; BSE BANKEX Index Up 0.1%

BANK OF MAHARASHTRA share price has zoomed 5% and is presently trading at Rs 14.

Meanwhile, the BSE BANKEX Index is at 32,030 (up 0.1%).

Among the top Gainers in the BSE BANKEX Index today is BANK OF MAHARASHTRA (up 5.0%).

HDFC BANK and INDUSIND BANK (down 0.1%) are among the top losers today.

Over the last one year, BANK OF MAHARASHTRA has moved down from Rs 27 to Rs 14, registering a loss of Rs 13 (down 50.7%).

On the other hand, the BSE BANKEX has moved up from 27,541 to 32,030, registering a gain of 4,489 points (up 16.3%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAH. BANK (up 28.7%), AXIS BANK (up 27.1%) and INDUSIND BANK (up 21.2%).

What About the Benchmark Indices?

The BSE Sensex is at 38,050 (up 0.1%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS (up 1.5%), VEDANTA LTD (up 1.3%) and TATA MOTORS DVR (up 0.9%). Other gainers include HIND. UNILEVER (up 0.7%) and SBI (up 0.4%). The most traded stocks in the BSE Sensex are SBI and HERO MOTOCORP.

In the meantime, NSE Nifty is at 11,475 . VEDANTA LTD (up 1.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 31,798 to 38,050, registering a gain of 6,252 points (up 19.7%).

BANK OF MAHARASHTRA Financial Update...

BANK OF MAHARASHTRA net profit down at Rs 11 billion for the quarter ended June 2018, compared to a loss of Rs 6 billion a year ago. Operating income declined 3.1% to Rs 26.4 billion during the period as against Rs 27.2 billion in April-June 2017.

For the year ended March 2017, BANK OF MAHARASHTRA reported 1247.4% decrease in net profit to Rs 13.6 billion compared to net profit of Rs 1.2 billion during FY16.

Revenue of the company grew 7.6% to Rs 121 billion during FY17.

The current Price to earnings ratio of BANK OF MAHARASHTRA, based on rolling 12 month earnings, stands at down 0.8x.

This article was originally published in English at www.equitymaster.com

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