India's IDBI Bank rises on strong Q1 earnings

IDBI Bank

22/07/2024 09:30

** Shares of IDBI Bank  IDBI.NS  up 4.7% to 93.02 rupees
    ** Lender's Q1 profit rose 40.4% YoY, gross non-performing
assets as a share of total advances reduced to 0.23% from 0.34%
in Q4
    ** Rival HDFC Bank  HDBK.NS  beat Q1 profit estimates on
Saturday; shares were up on Monday
    ** Nifty Bank index  .NSEBANK , which IDBI is not part of,
up 0.1%
    ** IDBI, Bank index up 38% and 8.3% YTD, respectively; HDBK
down 4.3%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))