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IndusInd Bank snaps 8-day losing streak

Capital Market 

IndusInd Bank surged 40.79% to Rs 424.05, on a strong buying support after a steep decline in the past eight trading sessions.

Shares of IndusInd Bank slumped 62.53% in the past eight trading sessions to settle at Rs 301.20 yesterday, 25 March 2020, from its close of Rs 804 on Friday, 13 March 2020. The stock hit its 52-week low at Rs 301.20 yesterday, 25 March 2020.

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: Thu, March 26 2020. 12:00 IST
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