IndusInd Bank slips 16% in three days despite clarification on HFC exposure

The stock was trading lower for the third straight day, down 6 per cent at Rs 1,304 on the BSE.

Shares of IndusInd Bank were under pressure for the third straight day, down 6 per cent at Rs 1,304 on the BSE on Tuesday despite the bank issuing clarification that its exposure to housing finance company (HFC) is fully/strongly collateralised with no overdues.

In the past three trading days, the stock of private sector lender has slipped16 per cent, as compared to a per cent fall in the S&P BSE Sensex. At the time of writing of this report, it was trading close to its 52-week low of Rs 1,268 touched on August 26.

“The bank's gross exposure