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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 SECTIONS Share Synopsis The company’s Street-beating March quarter numbers impressed analysts, who now see up to 50 per cent upside in the stock. Getty Images 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. Related NSE Explore Now 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. ....
Promoters inject Rs 2,021 crore in IndusInd Bank via conversion of warrants IndusInd Bank said that the warrants were converted at a price of Rs 1,709 per share reflecting a premium of 65 per cent over Wednesday s closing price of Rs 1,032.60 BusinessToday.In | February 18, 2021 | Updated 18:34 IST IndusInd Bank raises Rs 2,021 crore of common equity capital Private lender IndusInd Bank on Thursday said it has raised Rs 2,021 crore of common equity capital through conversion of preferential warrants issued to the Promoter entities - IndusInd International Holdings Limited (IIHL) and IndusInd Limited (IL). The warrants were issued as an integral part of the merger with Bharat Financial Inclusion Limited in July 2019. The Promoter entities had paid Rs 673 crores at the time of subscription to the warrants and the balance amount of Rs 2,021 crore was paid today, the lender said in an exchange filing. ....
Shares of IndusInd Bank rallied 8 per cent to Rs 914 on the BSE in Monday s session, up 14 per cent in the past two trading days, after the bank posted a decent set of October-December quarter (Q3FY21) numbers with a 25 per cent quarter-on-quarter (QoQ) growth in net profit at Rs 830 crore, aided by improvement in core operating performance and lower provisions. Net interest income (NII) increased 10.8 per cent year on year (YoY) and 3.9 per cent QoQ to Rs 3,406 crore. Net interest margin (NIM) stood at 4.12 per cent for the quarter ended December 2020. Net non-performing assets (NPA) improved to 0.22 per cent as at Q3FY21 from 0.52 per cent a quarter ago, well provided for with provision coverage ratio (PCR) at 87 per cent. Pro forma net NPA, considering NPA not recognized due to Supreme Court’s order, stood at 0.70 per cent and pro forma PCR at 77 per cent, IndusInd Bank said in press release. ....
The Nifty futures on Singapore Exchange traded 42 points higher at 13,763 in Monday s morning session, indicating a positive start for benchmark indices. Here are the top stocks to track in today s session: Budget-related stocks: Stocks of infrastructure, construction, housing finance companies, along with PSU stocks, financials, healthcare and power and energy-related stocks could remain in focus today. Tata Motors: The automaker on Friday reported a 67.52 per cent rise YoY in its consolidated net profit to Rs 2,941.48 crore for the third quarter ended December 31, aided by pent-up demand amid steady recovery in the economy. Tech Mahindra: The company reported a 14.3 per cent YoY jump in its December quarter net profit at Rs 1,309.8 crore driven largely by improving profit margins while the revenues remained stable. ....