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Indusind Bank slumps 69% in seven sessions

Capital Market 

Indusind Bank was down 24.99% to Rs 252.45, extending recent slump on unabated selling pressure.

Shares of IndusInd Bank have tanked 68.60% in seven trading sessions from its recent closing high of Rs 804 on 13 March 2020. The stock has crashed 86.24% from its 52-week high of Rs 1,835 hit on 28 March 2019.

Meanwhile, Indusind Bank announced that Romesh Sobti retired as managing director (MD) & CEO on Monday, 23 March 2020. The bank has appointed Sumant Kathpalia as MD & CEO with effect from 24 March 2020, for a period of three years.

The bank's standalone net profit jumped 32% to Rs 1,300.20 crore on a 25.5% surge in total income to Rs 9,073.93 crore in Q3 December 2019 over Q3 December 2018.

IndusInd Bank is engaged in banking and para-banking services. The bank is involved in accepting deposits, such as savings accounts, current accounts and fixed deposits, and banking solutions.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 24 2020. 10:00 IST