IndusInd Bank down 2%, hits 52-week low; trades lower for 6th straight day

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IndusInd Bank down 2%, hits 52-week low; trades lower for 6th straight day - Business Standard

Quick Summary:

The stock of private sector bank is quoting lower for the sixth straight trading days, falling 6% during the period and 20% from its 52-week high of Rs 1,694.35 hit on January 15, 2024.

Seasonality and external factors such as a heat wave and general elections adversely impacted the bank’s business and resulted in soft earnings in Q1FY25.

Despite increasing cost of funds (CoF) and tight liquidity conditions, IndusInd Bank has managed to adroitly protect its margins and profitability on the back of its diversification and retailisation efforts.