IndusInd Bank Slides 2.91% to 922.20 Rupees as Sensex Drops 1.70%
Updated
Updated · MarketWatch · May 11
IndusInd Bank Slides 2.91% to 922.20 Rupees as Sensex Drops 1.70%
15 articles · Updated · MarketWatch · May 11
IndusInd Bank shares fell 2.91% to 922.20 rupees on Monday, lagging a broadly weak Indian market and closing 4.79% below their 52-week high of 968.60 rupees.
The BSE Sensex dropped 1.70% to 76,015.28 in an all-around poor session, providing the backdrop for the bank stock's underperformance.
Among peers, State Bank of India fell 4.48% and Union Bank of India lost 1.46%, while Kotak Mahindra Bank edged up 0.14%, leaving IndusInd's move mixed within the banking sector.
Trading volume was light at 32,178 shares versus a 50-day average of 192,352, suggesting the decline came on relatively muted activity.
As a 'profitability squeeze' hits Indian banks, is IndusInd's slowdown a masterful defense or a sign of deeper weakness?
With its loan book shrinking, can IndusInd Bank’s record profit and new CEO convince investors of a real turnaround?