CRISIL puts Rs 5,500 crore worth of IndusInd Bank's bonds on rating watch with negative implications amid top exits, MFI audit, and Rs 1,960 crore derivatives loss
IndusInd Bank CEO resigns over ₹2,000 cr derivatives loss IndusInd Bank MD & CEO Sumant Kathpalia resigned, taking ‘moral responsibility’ for ₹2,000 crore derivatives losses after an internal probe.
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Technically, the short-term trend for IndusInd Bank looks favourable; but chart cautions that stock may face challenges around its 100-DMA, and the weekly trend line resistance. Check key levels here
Analysts express reservation on appointment of a PSU banker as MD & CEO
Today, PM Modi chaired a second meeting of the Cabinet Committee on Security after the Pahalgam terror attack. The Cabinet Committees on Political Affairs—known as the "Super Cabinet"
IndusInd Bank CEO Sumant Kathpalia resigned after audit firm Grant Thornton found nearly ₹2,000 crore in losses related to the bank's derivatives portfolio
The private lender's stock fell as much as 3.31 per cent during the day to ₹810.05 per share
Stocks to Watch on Wednesday: Bajaj Finance, Trent, IndusInd, Ambuja, SBI, BPCL, Bajaj Finserv, CEAT and Infosys are among the stocks to watch today, April 30, 2025
Bank seeks RBI nod for panel to discharge CEO duties
This comes after Arun Khurana, Deputy Chief Executive Officer of IndusInd Bank, filed his resignation from the bank yesterday
Shares of IndusInd Bank were on the rise today.It not only rallied over 2% in early trade today, but it has also recovered 41% from its March 12th low of ₹605.40.
Arun Khurana, deputy CEO of IndusInd Bank, has resigned with immediate effect, taking responsibility for the ₹1,960 crore losses due to incorrect accounting of internal derivative trades.
This is the second high-profile exit from the bank in 2025
Based on the findings of an external agency's probe, IndusInd has estimated an impact of 2.27% on its net worth as of December 2024
Cumulative adverse accounting impact on P&L at Rs 1,960 crore as of March 31, 2025
Yes Bank's profitability remains lower vis-a-vis private peers
Bank has not engaged EY to conduct a forensic audit of MFI biz, the lender clarified
IndusInd's shares, which have fallen 13% since the derivative accounting lapse was disclosed, closed 5% lower on Tuesday
IndusInd Bank's stock fell as much as 6.3 per cent during the day to ₹775.4 per share