IndusInd Bank extends gain on promoter stake hike plans, soars 30% in 1 wk

The stock was trading higher for the fifth straight day, ralling 8 per cent to Rs 541 on the BSE on Thursday

Shares of IndusInd Bank were trading higher for fifth straight day, rallying 8 per cent to Rs 541 on the BSE on Thursday, after its promoters said that they would acquire additional shares of the bank from the secondary market.

The stock of the private sector lender has soared 30 per cent in the past one week, as compared to 0.53 per cent rise in the S&P BSE Sensex. It was trading at its highest level since March 18, 2020.

Despite the sharp rally seen in the past week, the stock is down 73 per cent from its all-time high