Bandhan Bank declines 7% post Q2FY19 numbers

Shares of Bandhan Bank declined 7% in the morning session on Thursday, despite the improvement in the bank’s NII in Q2FY19 by 55.6% yoy to Rs1,078cr vs. Rs693cr in the corresponding quarter previous year. The NIMs for Q2FY19 stood at 10.3% vs. 9.3% yoy, which has increased by 100bps yoy. The bank’s net profit was above estimates due to higher NII, which has improved by 47.4% yoy to Rs488cr against Rs331cr in the corresponding period last year. Bandhan Bank Ltd is currently trading at Rs475.95 down by Rs36.1 or 7.05% from its previous closing of Rs512.05 on the BSE. The scrip opened at Rs497 and has touched a high and low of Rs497 and Rs467.10 respectively. So far 15,89,862 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs61,077.58cr.

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