IndusInd Bank Shares Surge Amid Assurances of Stability
Shares of IndusInd Bank rose nearly 1.50% following assurances of no further financial impact from past frauds. The bank reported a 72% drop in net profit for the June quarter but emphasized a 'robust recovery.' Interim management focuses on governance to enhance performance.
- Country:
- India
Shares of the private sector lender, IndusInd Bank, ended nearly 1.50% higher on Tuesday after the company assured stakeholders there would be no further financial impact from past frauds.
The stock closed at Rs 814 on the BSE, an increase of 1.48%. Earlier, it reached a high of Rs 818.60. On the NSE, the shares rose 1.46% to Rs 813.80.
Despite a 72% drop in net profit for the June quarter to Rs 604 crore, IndusInd Bank's interim management stressed a 'robust recovery,' focusing on governance improvements to resolve issues from alleged management irregularities.
(With inputs from agencies.)
Advertisement
ALSO READ
Heritage Foods' Profit Drops Despite Revenue Growth
ICICI Bank's consolidated net profit in June quarter jumps 15.9 per cent to Rs 13,558 crore from Rs 11,696 crore a year ago.
HDFC Bank's June Quarter Blues: A Slight Dip in Profits
ICICI Bank's Profits Soar: A 15.9% Jump in the June Quarter
Jio Platforms June quarter net profit rises 25pc y-o-y to Rs 7,110 cr: Co Statement.
Google News