Bandhan Bank hits highest level since listing; up 56% against issue price

Bandhan Bank hit a new high of Rs 585, up 5% on Tuesday, trading at its highest level since listing on March 27, 2018

Bandhan Bank

Shares of Bandhan Bank, which hit a new high of Rs 585, up 5% on Tuesday, was trading at its highest level since listing on March 27, 2018. The stock gained 54% over the issue price of Rs 375.

Since April 26, post FY18 results, Bandhan Bank has outperformed the market by surging 16% after the private sector lender reported 21% year on year (YoY) growth in net profit at Rs 13.46 billion. Net interest income grew 26% at Rs 30.32 billion over the previous