Shares of this BSE 500 bank are up by over 5% on the bourses today!

Shares of this BSE 500 bank are up by over 5% on the bourses today!

Indian Market
by 5paisa Research Team Last Updated: 2023-01-03T13:04:05+05:30

Yesterday, the bank provided a business update for the December quarter.

The shares of CSB Ltd are buzzing on the bourses today. As of 12.41 pm, the shares of CSB Bank are trading higher by 5.67%. Today, the company's shares witnessed a spurt in trading volume by more than 3.47 times. Owing to this, the stock is one of the top gainers on BSE from Group A.

Meanwhile, the frontline index S&P BSE Sensex is down by 0.11%.

Even in the pre-opening session today, the shares of CSB Bank were one of the top gainers on BSE. During this time, the share price of CSB Bank was trading higher by 5.5%.

The rally in the share price has come on the back of a disclosure made by the company. As per the exchange filing, the bank's total deposits went up by 18.93% YoY to Rs 22,664.02 crore. On a sequential basis, the total deposits were up by 8%. Further, the gross advances went up by 25.7% YoY and 5.5% QoQ to Rs 18,643.32 crore.

CSB Bank is one of the oldest private sector banks in India. It has a strong base in Kerala along with a significant presence in Tamil Nadu, Karnataka, and Maharashtra. It offers a wide range of products and services to its overall customers, with a particular focus on SME, retail, and NRI customers.

The bank is currently trading at a TTM PE of 8.21x against the industry PE of 21.78x. In FY22, the company delivered an ROE & ROCE of 20.3% and 16.33%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 4,479.40 crore.

Today, the scrip opened at Rs 256.90 and has touched a high and low of Rs 264 and Rs 250.40, respectively. So far 2,07,549 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 275 and Rs 178, respectively on BSE.


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