According to analysts at ICICI Securities, the Rs 8,800 crore-exposure to the telecom sector may cast shadow over the bank's asset quality.
IndusInd Bank was added to the so-called 'red flag' list two weeks ago after FPI shareholding crossed 71 per cent
The S&P BSE Sensex and the S&P BSE Allcap index have gained 23 per cent and 24 per cent, from their respective March 23, 2020 low levels
Most global markets surged as investor appetite for risk assets improved due to the progress of an experimental drug for treating covid-19 and on US's plan to reopen its economy.
IndusInd Bank's stock price has rallied 87 per cent from its 52-week low level of Rs 235.55, touched on March 20, 2020
According to the bulk deal data on the National Stock Exchange (NSE), Goldman Sachs (Singapore) Pte-ODI bought 1.4 million shares of the private lender, at an average price of Rs 430.3 apiece
In the last three trading sessions, FPIs scooped shares worth more than Rs 4,000 crore, spurring a 13 per cent rally in the market
On Tuesday, Singapore-based investment banking firm UBS Principal Capital Asia bought 5.38 million shares representing a 0.78% stake of IndusInd Bank at an average price of Rs 367 on the NSE.
Analysts at Kotak Institutional Equities expect banks to report healthy earnings due to the Reserve Bank of India's loan moratorium
As the new management looks to focus on balance sheet, growth may take a backseat
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Last week, the stock of the private lender had hit an 8 year low of Rs 235.55 on the National Stock Exchange (NSE) with the bank's market-capitalisation slipping below the Rs 20,000 crore-mark
The bank said credit costs likely to rise by 200-210 bps, targeting 60% provision cover, deposits down by 10-11% in March quarter
IndusInd Bank and Bandhan Bank were among the worst-hit in the recent carnage
Tuesday's stock reaction is also an indicator of the challenges ahead of him and probably the toughest faced by the bank in the past decade
In February, the RBI had approved the appointment of Kathpalia as the MD & CEO of the private lender
The outbreak of coronavirus (Covid-19) has raised fears of fresh bad loan wave as small businesses are likely to default owing to demand disruption.
The fall in banking stocks has a huge bearing on the overall markets as the sector has the highest weighting in the benchmark indices
IndusInd Bank says its gross non-performing assets in December quarter 2019 stood at 2.18 per cent: lowest among large private sector banks.
On Wednesday, the bank's stock on the BSE fell by Rs. 61.10 or 9.20 per cent to close at Rs. 603.05 from its previous close