Bandhan Bank shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
Bandhan Bank shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.Shares of Bandhan Bank fell 7% on Monday as banking stocks led losses amid the ongoing market correction. Bandhan Bank stock slipped 6.79% to Rs 234.55 against the previous close of Rs 251.65 on BSE. At 2:32 pm, Bandhan Bank stock was trading 6.48% lower on BSE. The stock was among the top BSE losers in the afternoon session.
The large cap stock has lost 3 per cent in one year and fallen 43 per cent in three years.
Bandhan Bank shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
A total of 53.58 lakh shares of the lender changed hands, amounting to a turnover of Rs 127.56 crore on the BSE.
Market cap of the bank fell to Rs 37,904 crore on the BSE. The stock hit a 52-week high of Rs 272 on June 1, 2022 and fell to a 52 week low of Rs 182.20 on March 28, 2023.
The banking stock can reach a level of Rs 319, said Axis Securities.
Bandhan Bank logged a 18.6% year-on-year (YoY) and 7.7% quarter-on-quarter (QoQ) increase in its loan portfolio in the third quarter of FY24. The figure includes on-book, off-book, targeted longer-term refinancing operations (TLTRO), and pass-through certificate (PTC) components, with a reduction in non-performing asset (NPA) portfolio after a sale to an asset reconstruction company (ARC) amounting to Rs 720 crore.
Total deposits grew 14.8% year-on-year to Rs 117,422 crore and a 4.8% quarter-on-quarter growth by the end of December 31, 2023.
Profit after tax (PAT) stood at Rs 721 crore in Q2 FY24 as compared to Rs 209 crore in Q2 FY23, clocking a growth of 245 per cent year-on-year (YoY).
Total income climbed 11.77 per cent to Rs 2,983 crore in the September 2023 quarter from Rs 2,669 crore in the year-ago period. Bandhan Bank said its total deposits came at Rs 1.12 lakh crore, climbing 12.8 per cent YoY, marginally better than the industry average growth.
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