IndusInd Bank is one of the prominent private banks in India. The bank is under intense scrutiny which made the share price drastically drop. On BSE the shares have fallen to Rs 655.95 which is 27% down.This fall has raised concerns among investors.
IndusInd Bank Share Price in Today’s Market
As of today, 12th March 10.30 am IndusInd Bank’s Share Price is standing at Rs 688.15 which is 4.9% up from the opening bell. It has already touched a high of Rs 694.70 and lowest It fell is Rs 606. The UC limit is set at Rs 721.50 and LC Limit is at Rs 590.35. Currently, the total market capitalization of the company stands at around 53852 crore.
Company Financials
The bank has discovered some discrepancies in its accounting, which could result in reduced net worth. In the third quarter, the bank has reported a net interest income of Rs 5228 crore, which is down by 1%. Net profit in the 3rd quarter was Rs 1402 crore which is another 39% decline compared to the same period last year. But, despite all these challenges bank deposits have grown by 11% compared to same period last year. The total net worth of IndusInd Bank now stands around Rs 65,102 cr.
Recent News about IndusInd Bank
- IndusInd Bank’s share price fall has affected Hinduja Group Stocks as well. Five out of Six stocs are in decline, which resulted in estimated loss of Rs 21,000 crore in market value. Promoters has urged share holders not to panic and infuse funds if needed. They believe this is a routine issue and will be solved soon.
- Despite the initial drop the stock has recovered somewhat after bank’s CEO Sumant Kathpalia assured all issues will be solved with in the forth quarter. Also, the bank will remain profitable for Q4 FY25.
IndusInd Bank Share Target Price
According Kotak Institutional Equities IndusInd Bank shares could touch Rs 850 to Rs 1400 at the end of 2025. On the other hand ICICI Securities and Nirmal Bang have set target between Rs 850 to Rs 900. However, Motilala Oswal thinks share price could touch Rs 1100.
Recommendation on Buy or Sell?
According to moneycontrol website, 37% of the 41 analyst suggests ‘BUY’ IndusInd Bank shares. 34% say HOLD and 2% suggest SELL. Consensus Analytics also suggests ‘BUY’ for the shares. Their current estimated target is at Rs 1173.81.
