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Synopsis : IDBI Bank's Q4 earnings show a 4.25% stock rise, with a 44% profit increase. Technicals suggest balanced trading, while NII climbs 12%. Dividend of Rs 1.50 per share recommended for FY24.
IDBI Bank's fourth-quarter earnings saw a 4.25% surge in its stock price to Rs 93.21 on Monday, up from the previous close of Rs 89.41 on the BSE. The lender's market capitalization stood at Rs 97,879 crore. This increase follows a 44% rise in the bank's profit for the March quarter, with net profit reaching Rs 1,628 crore and provisions dropping by 58%. Trading at Rs 93.21, with a turnover of Rs 4.98 crore and 5.43 lakh shares exchanged hands, the stock has experienced a 72% increase over the past year and a 35% gain in 2024.
Technically, IDBI Bank's relative strength index (RSI) sits at 56.2, indicating balanced trading conditions. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, with a beta of 1.1, the stock demonstrates high volatility.
In terms of financials, net interest income (NII) rose 12% to Rs 3,688 crore year-on-year in Q4, while return on assets (RoA) increased to 1.82% from 1.43% in the corresponding quarter of the previous financial year. Net interest margin (NIMs) fell slightly to 4.91%, with stable asset quality reflected in gross NPAs slipping to 4.53% sequentially and net NPAs remaining unchanged at 0.34%.
Moreover, the bank's board recommended a dividend of Rs 1.50 per equity share for FY24, subject to approval at the Annual General Meeting (AGM).
Disclaimer : We provides Stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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