IndusInd Bank was up 0.84% to Rs 1,410.25 at 10:40 IST on BSE as the stock witnessed action from foreign funds via bulk deals on the stock exchanges yesterday, 29 March 2017.
Meanwhile, the S&P BSE Sensex was up 84.92 points or 0.29% at 29,616.35.
On the BSE, 5,422 shares were traded on the counter so far as against the average daily volumes of 1.49 lakh shares in the past one quarter. The stock had hit a high of Rs 1,414.95 and a low of Rs 1,399 so far during the day. It had hit a record high of Rs 1,425 on 28 March 2017 and a 52-week low of Rs 912 on 28 March 2016.
The large-cap bank has equity capital of Rs 598.15 crore. Face value per share is Rs 10.
Macquarie Bank sold 35.32 lakh shares of IndusInd Bank at Rs 1,409.50 in a bulk deal on the BSE on 29 March 2017. Tybourne Equity Master Fund bought 30.07 lakh shares. Goldman Sachs Investments Mauritius I sold 71.38 lakh shares at Rs 1,400.19 per share in a bulk deal on the NSE on 29 March 2017. Tybourne Equity Master Fund bought 42.38 lakh shares at Rs 1,400 a piece. Goldman Sachs Investments Mauritius I controlled 1.61% stake end December 2016.
Meanwhile, IndusInd Bank said it has extended its agreement with Lohia Industries by offering 3-wheeler financing in the e-rickshaw category. Lohia Auto Industries announced that IndusInd Bank would be its preferred financier for financing their electric three wheelers under the e-rickshaw category. This is in addition to the financing of diesel vehicles which the bank already provides.
Through this partnership IndusInd Bank will offer retail vehicle finance at attractive rates of interest to the customers of Lohia Auto, for all Lohia 3-wheeler electronic and diesel models. This partnership will simplify the process for customers to take up three-wheeler by providing loans which are hassle free and competitively priced. The announcement was made after market hours yesterday, 29 March 2017.
The memorandum of understanding (MoU) between IndusInd Bank and Lohia Auto Industries was signed in May 2016 for diesel vehicles and has now been extended to the electronic 3-wheeler segment. Since May 2016, IndusInd Bank has financed close to 7.10 lakh 3-wheeler vehicles as a part of this association.
IndusInd Bank's net profit rose 29.2% to Rs 750.64 crore on 22.9% growth in total income to Rs 4716.13 crore in Q3 December 2016 over Q3 December 2015.
IndusInd Bank is a leading private sector bank in India.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
