15 hours Ago
IndusInd Bank share price plunged 10%, hitting a lower circuit on Tuesday, after the private lender warned about a 2.35% decline in its net worth due to discrepancies in its derivative accounts. IndusInd Bank shares touched a 52-week low of ₹ 810.
55 apiece on the BSE. IndusInd Bank, the country’s fifth-largest private sector bank, said it expects a 2.35% decline in its net worth as of December 2024 due to discrepancies in its derivative trades, which were not in compliance with rules enforced by the Reserve Bank of India from April 2024.
“Bank’s detailed internal review has estimated an adverse impact of approximately 2.35% of Bank’s Net worth as of December 2024. The Bank has also, in parallel, appointed a reputed external agency to independently review and validate the internal findings.
A final report of the external agency is awaited and basis which the Bank will appropriately consider any resultant impact in its financial statements. The Bank's profitability and capital adequacy remains healthy to absorb this one-time impact,” IndusInd Bank said in a regulatory filing on March 10. At 9:25 AM, IndusInd Bank shares were still locked at 10% lower circuit of ₹ 810.
55 apiece on the BSE. (To be updated).
