As of today, March 14th 2025, the IndusInd Bank’s shares continue on its downward graph. This plummet in stock value followed after the Bank declared discrepancies in its derivative account this week. Its shares crashed by 30% after this announcement.
The president of the Institute of Chartered Accountants of India (ICAI), Charanjot Singh Nanda, disclosed to the Economic Times that IndusInd Bank’s financial statements will be under review and investigation. He said, the ICAI’s Financial Reporting Review Board (FRRB) may initiate the review.
“If the FRRB finds that the bank’s financial statements are not ‘true and fair’ as per stipulated standards, it can refer the case to ICAI’s disciplinary committee for potential action against the auditors concerned,” he said.
The stock value worsened when the Bank revealed that the discrepancies would impact at least 2.35% of their net worth as of December 2024. The total damage is estimated to be nearly Rs 1,600 crore post-tax and Rs 2,100 crore pre-tax.
Today, the Bank’s shares opened at Rs. 690.00; though it is 0.7% higher than the previous close, 684.70; they are down by 2.6% compared to the opening bell rates at the moment.
IndusInd Bank’s Share Price in Today’s Market
At 11:20 a.m., IndusInd Bank’s share price was Rs 672.35, which is nearly 2.5% lower than the opening rate. And 1.9% lower than its previous close. According to the reports and estimates on Money Control, the current market capitalization shows 52,379 cores; the UC Limit is 753.15, and the LC Limit is 616.25.
Company Financials
IndusInd Bank is a leading financial corporation in the private sector. It reported its Q3 FY 2024-25 financials on January 31st. The data reveals that IndusInd Bank saw a decline in its performance compared to the third quarter of last year. The net profit of the Bank fell by 39% to Rs. 1,401 crore, compared to Rs. 2,295 in the previous fiscal year. The Net Interest Income (NII) plunged to Rs. 5,228 crore from Rs. 5,296 crore in the third quarter of FY24.
Recent News About IndusInd Bank
- IndusInd Bank reported a Rs. 1,600 crore discrepancy in its derivatives accounts, originating from transactions eight years ago.
- In response to the discrepancy, the RBI triggered a broader examination of the derivatives exposures of other private and state-owned banks.
IndusInd Bank Share Price Target
As per the predictions of Trendlyne’s analysts, IndusInd Bank Ltd. has an average target of 1330.33. The consensus estimate speculates an upside of 97.86% from the last price of 672.35.
Should You Buy, Sell, Or Hold?
Market experts on Trendlyne report a mixed opinion on buying and holding shares. Money Control analysts share a similar sentiment, with only 37% recommending buying, 34% suggesting holding, and 2% suggesting selling shares. Before investing in IndusInd Bank, consider its long-term performance and consult your analyst to make the perfect move.
