ANDHRA BANK surges by 5%; BSE BANKEX Index Up 1.3%

ANDHRA BANK share price has Zoomed 5% and is presently trading at Rs 38.

Meanwhile, the BSE BANKEX Index is at 29,934 (Up 1.3%).

Among the top Gainers in the BSE BANKEX Index today are ANDHRA BANK (up 5.26%) and PNB (up 6.96%).

INDUSIND BANK (down 0.16%) is among the top loser today.

Over the last one year, ANDHRA BANK has moved down from Rs 61 to Rs 38, registering a loss of Rs 23 (down 37.62%)

On the other hand, the BSE BANKEX has moved up from 26,291 to 29,934, registering a gain of 3,643 points (up 13.79%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAH. BANK (up 35.92%), INDUSIND BANK (up 30.71%) and HDFC BANK (up 26.26%).

What About the Benchmark Indices?

The BSE Sensex is at 35,216 (up 0.77%).

The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 7.15%), BHEL (up 4.27%) and GAIL (up 4.08%). Other gainers include COAL INDIA (up 3.55%) and MARUTI SUZUKI (up 2.53%). The most traded stocks in the BSE Sensex are RELIANCE IND. and SUN PHARMA.

In the meantime, NSE Nifty is at 10,702 (up 0.87%). SUN PHARMA (up 7.16%) and BPCL (up 5.12%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 30,750 to 35,216, registering a gain of 4,466 points (up 14.45%).

ANDHRA BANK Financial Update...

ANDHRA BANK net profit declined 153.3% YoY to Rs 25 billion for the quarter ended March 2018, compared to a loss of Rs 17 billion a year ago. Net Sales rose 101.2% to Rs 46.1 billion during the period as against Rs 45.5 billion in January-March 2017.

For the year ended March 2017, ANDHRA BANK reported 37.1% increase in net profit to Rs 2.1 billion compared to net profit of Rs 5.6 billion during FY16.

Revenue of the company grew 102.4% to Rs 182 billion during FY17.

The current Price to earnings ratio of ANDHRA BANK, based on rolling 12 month earnings, stands at down 0.6x.

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

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