Banks' shares surge on marginally lower than expected hit on net worth

Bank's shares jump 7%; focus now shifts to forensic audit report

Shares of private sector lender IndusInd Bank surged over 7 per cent on Wednesday, following its disclosure the previous day that the impact of discrepancies in its derivatives portfolio, ascertained by external agency PwC, would be marginally lower than its findings in the internal review.

 

IndusInd Bank shares closed at ₹788. 25 on the BSE, up 7.12 per cent from the previous day’s close. The private lender’s shares have bounced back nearly 24 per cent since reaching a low of ₹637.30 on March 25. Its shares had fallen over 27 per cent the day after it disclosed to the exchanges