Bank of Maharashtra has delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 18.75 on September 19, 2022, to Rs 48.15 on September 18, 2023, an increase of more than 150% in one-year holding period.
An investment of Rs 1 lakh in the shares of this company one year ago would have turned to Rs 2.50 lakh today.
Bank of Maharashtra has reported a strong first quarter for FY24, with a net profit growth 95.15% to Rs 882.49 crore, compared to Rs 452.20 crore in the same quarter last year. The operating profit also saw a significant increase of 55.03%. The total income for the quarter increased by 43.53% to Rs 5417.87 crore, compared to the previous year’s same quarter. The bank saw a deposit growth by 25% to Rs 2,44,000 crore, with CASA at 51% of total deposits. The gross NPA improved to 2.28% and net NPA to 0.24%.
Bank of Maharashtra has the largest network of branches of any other public sector bank in Maharashtra. The services offered by the bank include Personal Banking – under which they offer services & products such as deposits, savings, personal loans, educational loans, RTGS, demat services, credit cards, etc.
Today, the stock opened at Rs 45.15, with a high and low of Rs 51.48 and Rs 44.61 respectively. The stock ended the trading session at Rs 48.08, up by 6.63%. The stock has a 52-week high of Rs 51.48 and a 52-week low of Rs 16.95. The company has a ROCE of 4.44% and an ROE of 17.4% with a market capitalisation of Rs 32,367 crore.
The stock has shown impressive growth and investors should keep a close eye on this stock.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.