IndusInd Bank declines after completing acquisition of RBS's diamond & jewellery financing business in India

IndusInd Bank declined 1.07% to Rs 946 at 10:30 IST on BSE after the bank said it has completed acquisition of Royal Bank of Scotland's diamond & jewellery financing business in India.

The bank made announcement during market hours today, 27 July 2015.

Meanwhile, the S&P BSE Sensex was down 320.30 points or 1.14% at 27,792.01.

On BSE, so far 10,381 shares were traded in the counter as against average daily volume of 1.18 lakh shares in the past one quarter.

The stock hit a high of Rs 951.70 and a low of Rs 942 so far during the day. The stock had hit a record high of Rs 966.90 on 15 April 2015. The stock had hit a 52-week low of Rs 534.15 on 8 August 2014.

The stock had outperformed the market over the past one month till 24 July 2015, rising 13.3% compared with Sensex's 1.38% rise. The scrip had also outperformed the market in past one quarter, gaining 14.88% as against Sensex's 2.46% gain.

The large-cap private sector bank has equity capital of Rs 582.49 crore. Face value per share is Rs 10.

IndusInd Bank said it has completed the acquisition of Royal Bank of Scotland's diamond & jewellery financing business in India with the entire business portfolio migrating to the bank. The acquired loan portfolio is approximately Rs 4100 crore. The bank had on 10 April 2015, announced that it has entered into an agreement to acquire the diamond & jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India subject to regulatory approval.

IndusInd Bank's net profit rose 24.7% to Rs 525.04 crore on 20% rise in total income to Rs 3447.84 crore in Q1 June 2015 over Q1 June 2014.

Powered by Capital Market - Live News