Shares of Bandhan Bank fall as Nifty drops
Bandhan Bank Ltd. slipped 2.46 per cent to Rs 222.15 in Wednesday's trade as of 01:44PM (IST). It hit a high of Rs 227.0 and low of Rs 221.15 during the session.
The stock quoted a 52-week high price of Rs 314.75 and a low of Rs 182.2. The return on equity for the stock stood at 11.2 per cent. About 437,221 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 21.25 per cent in the past one year in comparison with a 12.72 per cent gain in Sensex.Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 182.2 on August 02, while the 50-DMA was at Rs 239.26. 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 39.99 per cent stake in Bandhan Bank Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 7.49 per cent and 33.53 per cent stake.
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