IndusInd shares fall after overseas investors breach buying limit

IndusInd Bank was added to the so-called 'red flag' list two weeks ago after FPI shareholding crossed 71 per cent

Shares of private sector lender IndusInd Bank plunged 12 per cent on Tuesday after overseas investors breached buying their limit, people in the know said. Custodians had to sound off an alert to foreign portfolio investors (FPIs) asking them to halt fresh purchases or face forced liquidation, they said. Shares of IndusInd declined Rs 56.2, or 12.3 per cent, to end at Rs 400.8.

The stock was the worst-performing in the Sensex and the Nifty pack. Shares worth over Rs1,200 crore changed hands on the NSE and another Rs 71 crore on the BSE. As on Monday, FPI investment legroom