Shares of Bandhan Bank rise as Nifty gains

Shares of Bandhan Bank Ltd. gained 1.72 per cent to Rs 191.4 in Monday’s trade as of 11:52AM (IST). It hit a high of Rs 194.3 and low of Rs 190.75 during the session.

The stock quoted a 52-week high price of Rs 272.0 and a low of Rs 170.35. The return on equity for the stock stood at 11.2 per cent. About 624,401 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 1.26.

The scrip has been an underperformer, down 27.9 per cent in the past one year in comparison with a 21.71 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 170.35 on June 03, while the 50-DMA was at Rs 184.7. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 39.98 per cent stake in Bandhan Bank Ltd. as of 31-Mar-2024. Mutual funds and foreign institutional investors held 8.06 per cent and 31.19 per cent stake.