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IndusInd Bank Stock Slips Despite Strong Results

Top-Banking-Stock

Shares of IndusInd Bank Limited is trading lower, even after the Bank reported strong results.

The Private Sector Banking lender today reported an increase in net profit of 33-percent at Rs.1309-cr in the quarter ended Dec 2019, as against a net profit of Rs.985-cr in the corresponding quarter of the last year.

The Bank’s Net Interest Income (Nll) for the quarter scaled at Rs.3074-Crore, as against Rs.2288-cr, year-on-year, registering a strong growth of 34 percent year-on-year, while non-interest income for the quarter is Rs.1790cr as against Rs1469-cr in the matching quarter of the previous year, registering a growth of 22%. Get the updated Free Stock trading tips and the latest stock tip updates from the experts

At 3.10-pm, shares of IndusInd Bank was trading at Rs1,499.30, down by Rs.40.35 or 2.62 percent from its previous closing of Rs1,539.65 on the NSE. The stock has touched a high and low of Rs1,585 and Rs1,492.50 respectively.