The share price of this small-cap bank firm gained by 5.8 percent to an Intraday high of Rs 385.6 per share on Friday after Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) bought stakes in the company.
With a market capitalization of Rs 6,610.68 crores, the shares of CSB Bank Ltd went up by 5.8 percent, trading at Rs 380.65 a piece on Friday’s afternoon session. Also, today’s high price of the stock is Rs 385.6 a piece and the previous closing price of the stock is Rs 364.40 a piece.
What happened: According to the NSE bulk deal data of 27th June 2024, FII’s such as Abu Dhabi Investment Authority and Amansa Holdings Private Limited have bought 10,15,000 and 82,77,500 units of equity shares respectively at Rs 352.75 apiece in CSB bank.
Additionally, the Foreign Institutional Investor FIH Mauritius Investments Ltd has sold 1,68,68,645 units of equity shares of CSB for the same price.
From the same day’s bulk deal data, DII such as ICICI Prudential Mutual Fund and India Acorn ICAV Ashoka India Opportunities Fund have bought 12,00,000 and 16,06,000 units of equity shares respectively for 352.75 a piece.
Financials: Reviewing the financials of CSB bank on a year-on-year basis, the revenues rose by 26 percent from Rs 2,320 crores in FY23 to Rs 2,928 crores in FY24. In the same time frame, the net profits increased from Rs 547 crores to Rs 567 crores demonstrating a 3.6 percent increase.
Ratios and EPS: For the year 2024, Earnings per share stood at Rs 32.67, and the return on Equity (ROE) at 17.37 percent. The total outstanding loans grew by 18 percent YoY. The Profit after Tax (PAT) for the same time period stood at Rs 567 crores demonstrating a 4 percent growth YoY.
Future plans: CSB bank has future plans to open 60 to 75 branches in the upcoming years and to prioritize sustainable growth over short-term gains. They are also focused on building a respectable midsized bank by the year 2030.
Share price movement: The shares of this company generated an overall return of 36.02 percent over the past year and 14 percent over the past one month.
Shareholding pattern: As of March 2024, the firm’s shareholding pattern stood at 49.72 percent for promoters, 29.35 percent for the public, 4.92 percent for foreign institutional investors, and 16.01 percent for domestic institutional investors.
About the company: Incorporated in the year 1920, CSB Bank is engaged in the business of banking Services. It is one of the oldest private sector banks in India with a history of over 98 years and has a very strong base in Kerala.
Written By Zahal
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