IndusInd Bank slips 3% ahead of PwC's likely report on accounting issues

Reports suggest that external auditor PwC would submit its report to IndusInd Bank's board regarding accounting discrepancies in its derivatives portfolio today

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IndusInd Bank shares slipped 3.5 per cent in trade on Friday, March 28, 2025, logging an intraday low at ₹649.5 per share on BSE. The stock snapped a two-day winning streak. The selling on the counter came ahead of the external auditor PwC's report on bank's accounting discrepancies which is poised to be released today. 

 

Around 12:59 PM, IndusInd Bank share price was down 3.23 per cent at ₹651.85 per share on BSE. In comparison, the BSE Sensex was down 0.33 per cent at 77,353.79. The market capitalisation of the company stood at ₹50,782.67 crore. The 52-week high of the stock was at ₹1,576 per share and the 52-week low was at ₹605.4 per share.

 

Reports suggest that external auditor PwC would submit its report to IndusInd Bank's board regarding accounting discrepancies in its derivatives portfolio. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the bank's net worth.

 

The report will comprehensively point out actual losses to the bank due to accounting discrepancies, lapses at various levels and remedial action.  

 

Meanwhile, the Securities and Exchange Board of India (Sebi) is investigating potential insider trading violations at IndusInd Bank, where the “pre-clearance” of trades may emerge as a pivotal defence for senior executives.

 

Sebi is reportedly examining whether five senior IndusInd executives possessed unpublished price-sensitive information (UPSI) when they sold shares on the open market. The regulator has also requested details of trades executed by these executives. 

 

IndusInd Bank had disclosed certain discrepancies identified by the lender in its account balances relating to its derivatives portfolio on March 10. 

 

Last week, IIHL chairman Ashok Hinduja said IndusInd Bank has not sought any fresh capital from its promoters even though it suffered a huge loss in its net worth following an accounting discrepancy.

 

IIHL, the investment arm of Hinduja Group, has recently got Reserve Bank of India's (RBI's) approval to raise its stake in IndusInd Bank from 16 per cent to 26 per cent.

 

In the past one year, IndusInd Bank shares have lost 56 per cent against Sensex's rise of 5.3 per cent.