IndusInd Bank Share Price: Climb 5% leading gainers of Nifty 50 on RBI’s statement
Shares of IndusInd Bank soared over 5 per cent in early trade on Monday after the central bank on Saturday assured customers that the former remains ‘well-capitalised’ and is financially stable.
The stock traded 3.25 per cent higher at ₹694.20 on the NSE as at 10.03 am, after hitting an intraday high of ₹709.90.
The RBI directed the bank’s board to complete remedial action relating to estimated ₹2,100 crore accounting discrepancy within this month.
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IndusInd Bank recently disclosed a discrepancy in accounting with an estimated impact of 2.35 per cent of the bank’s net worth, which caused a market correction for the stock.
There was no need for depositors to react to the speculative reports at this juncture, RBI said in its statement, assuring customers and investors that the bank’s financial health remains stable and is being monitored closely by it.
Global brokerage CLSA recently emphasised that there will be lingering uncertainty over the consecutive two or three quarters due to a slew of negative events.
