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IndusInd Bank soars 9% after UBS upgrades the stock to 'Buy' from 'Sell'

From its recent low of Rs 338.2 (on closing basis), hit on May 22, 2020, the stock price of the lender has surged 68 per cent on the BSE till Wednesday

For June quarter of FY21, the bank reported a 64.37 per cent year-on-year (YoY) decline in consolidated net profit at Rs 510.34 crore
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For June quarter of FY21, the bank reported a 64.37 per cent year-on-year (YoY) decline in consolidated net profit at Rs 510.34 crore

SI Reporter New Delhi
Shares of private lender IndusInd Bank jumped 9.1 per cent to Rs 620 apiece on the BSE on Thursday after global agency UBS upgraded the stock to 'Buy' from 'Sell'. From its recent low of Rs 338.2 (on closing basis), hit on May 22, 2020, the stock price of the lender has surged 68 per cent on the BSE till Wednesday, as against 27 per cent rise in the benchmark S&P BSE Sensex during the period, BSE data show.

"Recent regulatory relief could help ease the NPL burden for INDUSIND and mitigate the tail risks of accelerated defaults in the

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First Published: Aug 27 2020 | 2:11 PM IST

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