ORIENTAL BANK surges by 11%; BSE BANKEX Index Up 1.4%

ORIENTAL BANK share price has Zoomed 11% and is presently trading at Rs 88.

Meanwhile, the BSE BANKEX Index is at 29,965 (Up 1.4%).

Among the top Gainers in the BSE BANKEX Index today is ORIENTAL BANK (up 11.20%).

INDUSIND BANK (down 0.25%) is among the top loser today.

Over the last one year, ORIENTAL BANK has moved down from Rs 153 to Rs 88, registering a loss of Rs 66 (down 42.95%)

On the other hand, the BSE BANKEX has moved up from 26,291 to 29,965, registering a gain of 3,674 points (up 13.92%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAH. BANK (up 36.09%), INDUSIND BANK (up 30.59%) and HDFC BANK (up 26.26%).

What About the Benchmark Indices?

The BSE Sensex is at 35,216 (up 0.79%).

The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 7.06%), BHEL (up 4.27%) and GAIL (up 4.19%). Other gainers include COAL INDIA (up 3.30%) and SBI (up 2.60%). 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%) is 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 14.47%).

ORIENTAL BANK Financial Update...

ORIENTAL BANK net profit declined 83.1% YoY to Rs 17 billion for the quarter ended March 2018, compared to a loss of Rs 20 billion a year ago. Net Sales rose 99.6% to Rs 42.5 billion during the period as against Rs 42.6 billion in January-March 2017.

For the year ended March 2017, ORIENTAL BANK reported 545.1% decrease in net profit to Rs 10.8 billion compared to net profit of Rs 2.0 billion during FY16.

Revenue of the company grew 91.3% to Rs 184 billion during FY17.

The current Price to earnings ratio of ORIENTAL BANK, based on rolling 12 month earnings, stands at down 0.5x.

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

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