IndusInd Bank slides on profit taking

IndusInd Bank lost 1.26% to Rs 499.40 at 13:07 IST on BSE, with the stock sliding on profit taking after recent gains.

Meanwhile, the S&P BSE Sensex was up 25.97 points or 0.11% at 22,790.80.

On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 2.22 lakh shares in the past one quarter.

The stock hit a high of Rs 506.75 and a low of Rs 495 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 318 on 28 August 2013.

The stock had outperformed the market over the past one month till 21 April 2014, surging 7.22% compared with the Sensex's 4.65% rise. The scrip had also outperformed the market in past one quarter, advancing 16.59% as against Sensex's 7.12% rise.

The large-cap bank has equity capital of Rs 525.81 crore. Face value per share is Rs 10.

Shares of IndusInd Bank had risen 4.46% in three trading sessions to settle at Rs 505.75 on Monday, 21 April 2014, from a recent low of Rs 484.15 on 15 April 2014.

IndusInd Bank's net profit surged 28.8% to Rs 396.05 crore on 23.4% growth in total income to Rs 2702.19 crore in Q4 March 2014 over Q4 March 2013.

IndusInd Bank caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities.

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