Tuesday 7 June 2016

Bank stocks trading on a mixed note despite RBI keeps key rates unchanged

Reacting to the RBI policy, bank stocks are trading on a mixed note with moderate to medium gain/loss on BSE.

Raghuram Rajan on 5th April 2015
The Reserve Bank of India governor, Raghuram Rajan, kept the benchmark repo rate unchanged at 6.5% and Cash Reserve Ratio at 4% in the monetary policy review. The banks also kept the Statutory Liquidity Reserve unchanged.

Reacting to the RBI policy, bank stocks are trading on a mixed note with moderate to medium gain/loss on BSE.

However, the central bank warned that inflation risks were on the upside even as it retained the inflation targets set out in the April policy. On the positive side, the RBI said its policy stance continues to remain 'accomodative.' The GDP growth target for the current fiscal has been retained at 7.6% by the RBI.

Jammu and Kashmir Bank Ltd is currently trading at Rs. 63.5, up by Rs. 5.65 or 9.77% from its previous closing of Rs. 57.85 on the BSE. The scrip opened at Rs. 58 and has touched a high and low of Rs. 63.8 and Rs. 57.85 respectively. So far 2596061(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2804.57 crore.

Dhanlaxmi Bank Ltd is currently trading at Rs. 21.7, up by Rs. 1.45 or 7.16% from its previous closing of Rs. 20.25 on the BSE. The scrip opened at Rs. 21.1 and has touched a high and low of Rs. 22.65 and Rs. 21.1 respectively. So far 4231516(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 359.32 crore.

Indian Bank is currently trading at Rs. 97.5, up by Rs. 2.45 or 2.58% from its previous closing of Rs. 95.05 on the BSE. The scrip opened at Rs. 95.1 and has touched a high and low of Rs. 98.15 and Rs. 95 respectively. So far 106173(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4565.17 crore.

State Bank of India is currently trading at Rs. 203.2, up by Rs. 4.15 or 2.08% from its previous closing of Rs. 199.05 on the BSE. The scrip opened at Rs. 200 and has touched a high and low of Rs. 204.7 and Rs. 200 respectively. So far 26017569(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 154518.08 crore.

ICICI Bank Ltd is currently trading at Rs. 248.9, up by Rs. 5.55 or 2.28% from its previous closing of Rs. 243.35 on the BSE. The scrip opened at Rs. 244.2 and has touched a high and low of Rs. 249.7 and Rs. 244.2 respectively. So far 6338855(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 141538.28 crore.

Yes Bank Ltd is currently trading at Rs. 1082.85, up by Rs. 20.2 or 1.9% from its previous closing of Rs. 1062.65 on the BSE. The scrip opened at Rs. 1068.65 and has touched a high and low of Rs. 1085 and Rs. 1068 respectively. So far 2732367(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 44737.36 crore.

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