IDBI Bank shares in focus on Tuesday post Q4 earnings

Shares of IDBI Bank will be keenly tracked on Tuesday as the lender reported a 64.1 percent rise in its standalone net profit for the quarter ended March 2023. Net profit rose to Rs 1,133 crore in Q4 against a net profit of Rs 691 crore in the year-ago period. 

The banking stock rose 0.46% to close at Rs 54.62 on Friday against the previous close of Rs 54.37 on BSE. Total 10.25 lakh shares of the firm changed hands amounting to a turnover of Rs  5.62 crore. Market cap of the lender stood at Rs 58,729 crore. The stock is down 17.84% in a year and lost 0.5% in 2023.  

In terms of technicals, the relative strength index (RSI) of IDBI Bank stands at 69.6, signaling it's neither trading in the overbought nor in the oversold territory. The stock has a beta of 1.1, indicating high volatility in a year. IDBI Bank shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

The stock has been gaining for the last five sessions.  

Net interest income (NII) in Q4 came in at Rs 3,279.6 crore, up 35.3 percent from Rs 2,420.5 crore in the corresponding period last fiscal.  

The bank's capital adequacy ratio (CAR) rose to 20.44 percent from 19.06 percent year-on-year and 20.14 percent sequentially. Provisions in the March quarter zoomed 26 percent sequentially and 47 percent year-on-year to Rs 983.63 crore. 

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