The “Bank Nifty” index closed in the green today gaining around 518 points and closing at Rs 46,186.90. The index hit its all-time high today at a price of Rs 46,256.20.
Listed below are 2 Bank Nifty constituents that have delivered multibagger returns of more than 130 percent:
Punjab National Bank
With a market capitalization of Rs 70,305 crores, the shares of closed on Thursday at Rs 63.85, slipping around 0.50 percent as compared to the previous close of Rs 64.15 apiece.
Keeping a purview of one year, the Bank’s stock has been successful in delivering multibagger returns of 100 percent to its stakeholders. It means a Rs 1 Lakh investment would have converted to Rs 2 Lakhs if someone would have invested in the stock.
In the recent quarter period, the Bank has witnessed a growth in the total income as well as net profits with the former moving from Rs 26,133 crores during Q3FY22-23 to Rs 28,132 crores in Q4FY22-23, and, the latter increasing from Rs 660 crores to Rs 1,741 crores during the same time horizon.
The Non-Performing Assets (NPAs) of the Bank have also reduced with the gross NPA figure declining from 9.76 percent during Q3FY22-23 to 8.74 percent in Q4FY22-23, and, the net NPA numbers reducing from 3.30 percent to 2.72 percent.
IDFC First Bank Limited
With a market capitalization of Rs 53,953 crores, the shares of closed on Thursday at Rs 81.40, slipping around 0.50 percent as compared to the previous close of Rs 81.80 apiece.
Keeping a purview of one year, the Bank’s stock has been successful in delivering multibagger returns of 128 percent to its stakeholders. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 2.28 Lakhs within the above-mentioned period.
In the recent quarter period, the Bank has witnessed a growth in the total income as well as net profits with the former moving from Rs 7,064 crores during Q3FY22-23 to Rs 7,822 crores in Q4FY22-23, and, the latter increasing from Rs 616 crores to Rs 816 crores during the same time horizon.
The Non-Performing Assets (NPAs) of the Bank have also reduced with the gross NPA figure declining from 2.96 percent during Q3FY22-23 to V percent in Q4FY22-23, and, the net NPA numbers reducing from 1.03 percent to 0.86 percent.
Written by Amit Madnani
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