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Showing posts from April 19, 2009

IDBI Bank gallops on good Q4 numbers

IDBI Bank jumped 7.71% to Rs 64.25 at 14:40 IST on BSE, after net profit rose 28.03% to Rs 313.67 crore in Q4 March 2009 over Q4 March 2008. The bank announced the results during trading hours today, 24 April 2009. Meanwhile, the BSE Sensex was up 168.76 points, or 1.52%, to 11,303.75. On BSE, 20.26 lakh shares were traded in the counter. The stock had an average daily volume of 5.19 lakh shares in the past one quarter. The stock hit a high of Rs 65 and a low of Rs 59.50 so far during the day. The stock hit a 52-week high of Rs 110.50 on 5 May 2008 and a 52-week low of Rs 39.75 on 12 March 2009. The mid-cap bank stock had outperformed the market over the past one month till 23 April 2009, gaining 29.25% as compared to the Sensex's return of 18.16%. It had underperformed the market in the past one quarter, gaining 11.29% as compared to the Sensex's return of 28.37%. The bank's current equity is Rs 724.77 crore. Face value per share is Rs 10. The current price…

Stocks with low price-earnings ratio lead the rally

BSE 500 stocks with P/E of less than 10 deliver 50% returns.
Vidya Bala Which category of stocks has made the biggest gains in the recent market rally? Believe it or not, it was the really beaten-down stocks, trading at a single digit price-earnings (P/E) multiple. An analysis of stock price returns since March 9 shows that investors cherry-picked low P/E stocks from the Sensex and BSE 500 baskets; making them the top performers in this uptrend. Price-earnings ratio is a measure of how expensive or cheap a company's stock is, relative to its earnings. In the Sensex basket, low P/E stocks such as Tata Steel and Tata Motors delivered over 60 per cent returns.Lower the better BSE 500 stocks with a P/E of less than 10 (as on March 9) averaged a stellar 50 per cent return till date, compared with the index returns of 35 per cent. The lower the P/E, better the returns, suggests the data. Stocks with a rock-bottom P/E of less than 5, delivered even higher returns of 56 per ce…