IndusInd Bank recovers on bargain hunting

Meanwhile, the S&P BSE Sensex was down 45.20 points or 0.24% at 19,097.80.

On BSE, 23,000 shares were traded in the counter as against average daily volume of 2.94 lakh shares in the past one quarter.

The stock hit a high of Rs 487 and a low of Rs 474.50 so far during the day. The stock had hit a record high of Rs 530.60 on 27 May 2013. The stock had hit a 52-week low of Rs 305.95 on 19 June 2012.

The stock had underperformed the market over the past one month till 11 June 2013, sliding 6.08% compared with the Sensex's 4.87% fall. The scrip had, however, outperformed the market in past one quarter, jumping 9.36% as against Sensex's 2.56% decline.

The large-cap private sector bank has equity capital of Rs 523.04 crore. Face value per share is Rs 10.

Shares of IndusInd Bank had declined 6.92% in four trading sessions to settle at Rs 476.80 on Tuesday, 11 June 2013, from a recent high of Rs 512.30 on 5 June 2013.

IndusInd Bank's net profit surged 37.6% to Rs 307.40 crore on 23.6% growth in total income to Rs 2190.66 crore in Q4 March 2013 over Q4 March 2012.

As on 31 March 2013, IndusInd Bank had 500 branches, and 882 ATMs spread across 358 geographical locations of the country. The bank also has representative offices in London and Dubai.

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