IndusInd Bank nudges higher after opening new branch

IndusInd Bank gained 0.43% to Rs 1,440 at 10:45 IST on BSE after the bank announced that it inaugurated its third branch in Jamshedpur.

The announcement was made after market hours yesterday, 24 April 2017.

Meanwhile, the S&P BSE Sensex was up 191.31 points, or 0.65% to 29,847.15.

On the BSE, 3,721 shares were traded in the counter so far, compared with average daily volumes of 1.44 lakh shares in the past one quarter.

The stock had hit a high of Rs 1,444 and a low of Rs 1,435.20 so far during the day. The stock had hit a record high of Rs 1,444.55 on 13 April 2017. The stock had hit a 52-week low of Rs 965.65 on 21 April 2016.

It had outperformed the market over the past one month till 24 April 2017, gaining 3.19% compared with the Sensex's 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 14.56% as against the Sensex's 8.33% rise.

The large-cap private sector bank has equity capital of Rs 598.21 crore. Face value per share is Rs 10.

Expanding presence across Jharkhand, IndusInd Bank recently inaugurated its third branch in Jamshedpur, the first planned industrial city of India. The branch is located at Mango, Jamshedpur.

With the inauguration of this branch, the bank now has 19 branches in Jharkhand.

Meanwhile, IndusInd Bank announced during market hours yesterday, 24 April 2017 that it recently inaugurated its first branch in Bhinder, known for its silver and cloth market. The branch is located at Rampole Darwaja, station road, Bhinder, Udaipur, Rajasthan. With the inauguration of this branch, the bank now has 94 branches in Rajasthan.

IndusInd Bank's net profit rose 21.2% to Rs 751.61 crore on 22.4% increase in total income to Rs 5041.31 crore in Q4 March 2017 over Q4 March 2016.

Induslnd Bank is a private sector bank and caters to the needs of both consumer and corporate customers.

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