After the release of RBI bond, this bank's bright star, 3 times jump in profit, best return in its competitor

After the release of RBI bond, this bank's bright star, 3 times jump in profit, best return in its competitor

About two months ago, the Reserve Bank of India pulled IDBI Bank out of the Prompt Action Action Framework (PCA Framework). After nearly four years, RBI had freed IDBI Bank. The bank's results for the March quarter have arrived and its profit has jumped nearly three times. The RBI implemented PCA on the bank in May 2017. It was the first government bank. At present, 49.24 per cent stake is held by LIC and the government has 45.48 per cent stake.

IDBI Bank's net profit stood at 512 crores in the March quarter. It has jumped 278 percent on an annual basis. The bank had a net profit of Rs 135 crore in March 2020. It has grown by 35 per cent on a quarterly basis. The bank had a net profit of Rs 378 crore in the December quarter. The bank had a net profit of 13459 crores in the financial year 2020-21, while the bank had a total loss of 12887 crores in the financial year 2019-20.

NPA burden has reduced

There was a 38 per cent jump in the bank's net interest income, that is, NII. It was 3240 crores in March quarter which was 2356 crores in March 2020. It has risen 79 per cent compared to the December quarter. Net interest income in the December quarter was Rs 1810 crore. Apart from this, the burden of NPA has also reduced on the bank. It has now come down to 1.97 per cent from 4.19 per cent in March 2020.

4% jump in bank deposits

In FY 2021, there was a 4 per cent jump in bank deposits and it stood at Rs 2.3 lakh crore. Today, its stock closed 2.70 per cent higher at Rs 36.20. The 52-week high was Rs 56.20 and the lowest level was Rs 19.20. The market cap of the bank is Rs 38923 crore.

Good returns in competitor

This bank has given 6 per cent in a week, 21 per cent in three months and 68 per cent in a year. It has given the highest returns in its competitor. After this, ICICI has given 57 per cent, HDFC Bank 42 per cent, Kotak Mahindra Bank 27 per cent and Axis Bank 58 per cent in one year.


Why is the price of copper rising so fast in the world, including India, in the midst of the Corona crisis?

Why is the price of copper rising so fast in the world, including India, in the midst of the Corona crisis?

There is a record boom in the commodity market globally. Apart from steel, aluminum, copper is also doing business at a record level. On Thursday, the price of copper in the international market has crossed a record $ 10,000 per ton. The price of Shanghai copper has also reached the highest level in the past 10 years. Copper futures are also at record highs in the past decade in London, amid concerns over supply and weak dollar.

Information and agencies related to the commodity market say that in the coming time, the price of copper will see a boom. There are several reasons for this record boom in copper. For example, economic recovery has been seen worldwide, industrial copper consumption has increased in China, and Chile, which produces about a quarter of the global copper, has announced a tax of 75 per cent on its mining. Apart from this, due to the increasing trend of electric vehicles, the demand for copper is increasing.

If we talk about the Indian market, the price of copper was at the highest level till last week. Copper futures on Thursday were up 0.53 per cent at Rs 765.10 per kg. Copper futures for May delivery on the Multi Commodity Exchange (MCX) gained Rs 4, ie 0.53 per cent. The demand for copper has increased in India too.

Why is the copper price rising so fast?

1. Demand more and supply less: Sometime ago the Chilean Port Workers and Mining Association opposed a bill by the government. In fact, the Chilean government had introduced a new bill, under which workers were asked to block premature withdrawal from their pension funds for the third time.

About a quarter of the total global copper production comes from Chile. After the opposition of the association and the workers, the copper supply decreased and prices increased.

Apart from this, due to Kovid-19 in South America, many major commodity exports like iron ore and copper have been affected. Even in America, the importance of copper is seen as a raw material in Joe Biden's infrastructure plan.

However, in terms of supply, copper output in Peru has gone up by about 19 percent during the month of March. Globally, there has been some relief from this.

2. Less inventory: There has been a sharp decline in registered copper inventories on the London Metal Exchange. Analysts estimate that there has been a downward trend in this. As of 26 April 2021, the copper inventory at the London Metal Exchange was only 1,55,100 tonnes. In the second fortnight last month, it has reduced by 10 per cent.

3. Demand increased: Construction activities in China have increased this year. After this, the demand for copper in China has also increased. Let us know that half of the total consumption of copper in the world is from China. Analysts say that China consumes the most copper and now demand has increased due to large scale construction here. This is also a reason why the price of copper is getting faster.

A boom in economic development is now being expected in America. It will also have an impact on global economies. In the era of Kovid-19 crisis, countries around the world have announced an incentive package. On the other hand, good news is also coming about the corona vaccine. Both these factors have affected the price of copper.

4. Green Infrastructure: Demand for electric vehicles is increasing worldwide to reduce carbon footprint and promote the use of clean energy. Electric vehicles use twice as much copper as internal combustion engines. In such a situation, with the increase in demand for electric vehicles, the demand for copper will also increase.

What is the estimate of agencies?

In a recent report by Goldman Sachs, estimates say that by 2025, copper prices can reach $ 15,000 per tonne. The report titled 'Copper is the new oil' says that banks believe that by 2030, the annual demand for copper will rise by 900 per cent from the current level to 87 lakh tonnes.

Trading houses Trafigura Group and Bank of America also believe that copper prices have increased. Bank of America says that in the coming months, the price of copper can reach $ 13,000 per tonne.


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