IndusInd Bank fell 1.74% to Rs 503 at 10:23 IST on BSE after the Reserve Bank of India notified that foreign share holding in the private sector bank has reached the trigger limit.
Meanwhile, the BSE Sensex was down 123.99 points, or 0.55%, to 22,591.34
On BSE, so far 21,600 shares were traded in the counter, compared with an average volume of 2.13 lakh shares in the past one quarter.
The stock hit a high of Rs 505 and a low of Rs 499 so far during the day. The stock hit a record high of Rs 530.60 on 27 May 2013. The stock hit a 52-week low of Rs 318 on 28 August 2013.
The stock had outperformed the market over the past one month till 10 April 2014, gaining 9.11% compared with the Sensex's 3.56% rise. The scrip also outperformed the market in past one quarter, jumping 26.41% as against Sensex's 9.43% gain.
The large-cap bank has an equity capital of Rs 525.45 crore. Face value per share is Rs 10.
The Reserve Bank of India on Thursday, 10 April 2014 notified that the foreign share holding through Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI)/American Depository Receipt (ADR)/Global Depository Receipts (GDRs) in IndusInd Bank has reached the trigger limit. Hence, further purchases of equity shares of IndusInd Bank would be allowed only after obtaining prior approval of the Reserve Bank of India.
Total foreign holding in IndusInd Bank stood at 54.51% of which 41.13% was held by FIIs (as per the shareholding pattern as on 31 December 2013).
IndusInd Bank's net profit rose 29.8% to Rs 346.90 crore on 21.7% increase in total income to Rs 2623.76 crore in Q3 December 2013 over Q3 December 2012.
IndusInd Bank caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on 31 December 2013, IndusInd Bank has 573 branches, and 1055 ATMs spread across 392 geographical locations of the country. The Bank also has representative offices in London and Dubai.
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