IndusInd Bank retracts from record high

IndusInd Bank lost 0.19% to Rs 1,662 at 9:30 IST on BSE, with the stock witnessing volatility after hitting a record high at the onset of the trading session.

Meanwhile, the S&P BSE Sensex was up 37.78 points or 0.12% at 32,363.19.

On the BSE, 936 shares were traded on the counter so far as against the average daily volumes of 81,572 shares in the past one quarter. The stock had hit a high of Rs 1,680 so far during the day, which is a record high. The stock hit a low of Rs 1,658 so far during the day. The stock had hit a 52-week low of Rs 1,037.85 on 24 November 2016.

The stock had outperformed the market over the past one month till 4 August 2017, advancing 11.19% compared with the Sensex's 3.57% rise. The stock had also outperformed the market over the past one quarter, gaining 17% as against the Sensex's 7.3% rise. The scrip had also outperformed the market over the past one year, advancing 42.6% as against the Sensex's 16.64% rise.

The large-cap bank has equity capital of Rs 598.62 crore. Face value per share is Rs 10.

IndusInd Bank said it has recently inaugurated its first branch in Faridkot, Punjab. With the inauguration of this branch, the bank now has 101 branches in the state of Punjab. The announcement was made after market hours on Friday, 4 August 2017.

IndusInd Bank's net profit rose 26.5% to Rs 836.55 crore on 21.5% growth in total income to Rs 5302.77 crore in Q1 June 2017 over Q1 June 2016.

IndusInd Bank is one of the leading private sector banks in India.

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