IndusInd Bank, Bandhan Bank, PNB, and Bank of Baroda were among the top gainers while selling was seen in SBI, HDFC Bank, ICICI Bank, and Kotak Bank. The banking index witnessed some profit booking towards the close of the trade after hitting fresh record highs.
IndusInd Bank s net loans grew 18 percent in the March quarter, outpacing a 14 percent growth in deposits. The bank also declared a dividend of Rs 16.50 per share
IndusInd Bank shares fell after March results with 15% YoY net profit rise. NII increased 13.9%. Provisions decreased. NIM at 4.26%. Deposits rose 14% YoY.
IndusInd Bank shares fell 2 percent in intra-day deals today, April 26, after some brokerages cut EPS (earnings per share) estimates for the private sector lender despite it posting a 15 percent jump in its March quarter (Q4FY24) net profit.
Bandhan Bank is currently experiencing a pronounced downtrend, with indications pointing towards a potential bottoming out near the Covid lows in the range of Rs 180-160 per share.