IndusInd founders led by brothers Srichand and Gopichand Hinduja had raised about $300 million in February by pledging about 36% of their stake in the the bank.
Covid 1.0’s worst-hit Nifty stock now a strong rerating candidate
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The company’s Street-beating March quarter numbers impressed analysts, who now see up to 50 per cent upside in the stock.
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Analysts have turned bullish on the lender, as they believe it has worked on asset quality, one of the key concerns that haunted the stock all through last year.
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NEW DELHI: The worst index performer of last year’s Covid crisis has emerged a strong re-rating candidate, as a second wave of the virus wreak havoc in the country, threatening to trigger a fresh shutdown of the economy.
IndusInd Bank share rises over 3% post Q4 earnings
The large cap stock hit an intraday high of Rs 967.80 on the BSE
BusinessToday.In | May 3, 2021 | Updated 18:14 IST
The stock has risen 41 per cent in the last six months and 95 per cent over the last 12 months.
Shares of IndusInd Bank rose over 3 per cent in early trade today after the lender reported a 190.2 percent year-on-year (YoY) jump in its standalone net profit for the quarter ended March 2021. The bank reported a net profit of Rs 875.95 crore compared to Rs 301.8 crore in the same quarter a year ago. The increase in net profit was attributed to decline in bad loan provisions.
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