Bandhan Bank share price closed higher in trade today after the private sector lender clocked a growth of 6 percent in deposits on a quarter-on-quarter basis to Rs 60,602 crore as on June 30.
On an year-on-year basis, deposits rose 35 percent. The large cap stock rose up to 12.61% to Rs 401.95 intra day against previous close of Rs 356.95 on BSE. The stock closed 10.65% or Rs 38 higher at Rs 394. The stock has gained 23.71% in the last 5 days.
The share opened with a gain of 2.61% at Rs 366 today. The share trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.
It has lost 27.9% in last one year and fallen 22.26% since the beginning of this year. However, in a month, the share has gained 59.61%. The stock has gained 136% in the last 3 months.Market cap of the lender rose to Rs 63,597 crore.
In June, total advances grew 3 percent QoQ and 18 percent YoY to Rs74,325 crore. The share of micro-banking deposits to total deposits stood at 5 percent on June 30 against 5.7 percent on March 31.
In FY20, total deposits rose 32 per cent to Rs 57,073 crore during the fiscal ended March 2020. The bank had total deposits of Rs 43,232 crore as at end of March 2019. Retail deposits formed bulk of the total deposits at 78.4 per cent, which showed an increase of 34 per cent to Rs 44,760 crore as on March 31, 2020, Bandhan Bank said.
Loans and advances climbed 60 per cent to Rs 71,825 crore during 2019-20, from Rs 44,776 crore. The bank said the percentage of microbanking deposits to total deposits was 5.7 per cent by the end of fiscal FY20.
By Aseem Thapliyal