IndusInd Bank lost over Rs 9,000 crore market cap in 2 days; stock down 10%

The management has indicated that the bank's exposure of 1.9 per cent to stressed groups is expected to come down in the coming quarters.

IndusInd Bank has lost an over Rs 9,000 crore market capitalisation (market-cap) in the past two trading days after foreign brokerage UBS downgraded the stock to ‘sell’ from ‘neutral’ on expectations of higher credit costs. Shares of the private sector lender were down 5 per cent at Rs 1,412 on Friday, falling 10 per cent in two days.

At 01:45 pm, IndusInd Bank market cap stood at Rs 85,461 crore. It has lost Rs 9,094 crore since Wednesday (June 12) when its market cap was Rs 94,555 crore, the BSE data shows.

The brokerage firm lowered its price target to