Shares of Bandhan Bank gained over 3 per cent after nearly 1.1 per cent of the lender’s equity or 1.8 crore shares exchanged hands
Shares of Bandhan Bank gained over 3 per cent after nearly 1.1 per cent of the lender’s equity or 1.8 crore shares exchanged hands in two large trades, CNBC-TV18 reported on July 31.
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The deal was valued at Rs 385.4 crore and the shares made up 1.1 percent of the total equity of Bandhan Bank. Details about buyers and sellers are yet to be disclosed.
On July 21, BNP Paribas bought around 80 lakh Bandhan Bank shares for Rs 211 in a bulk deal.
Shares of the private sector lender have fallen 7 per cent since January 1, while the stock went down 21 per cent in the last one year.
Bandhan Bank reported a net profit of Rs 712 crore for the June quarter as against Rs 886.5 crore in the year ago period.
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The bank stated that the results indicated that the lender was on a stable growth path.
The bank’s net non-performing assets increased 390 basis points to Rs 2140 crore during the quarter under review. Its total loans increased 6.7 percent year-on-year to Rs 103,170 crore and deposits grew 16.6 percent.
Bandhan Bank’s total branches as of June 30 stood at 6,140, as against 5,640 in Q1FY23.
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Shares of Bandhan Bank are trading 3.1 per cent higher at Rs 223.85. The stock made an intraday high of Rs 225.90 post the block deal.
