Free trading tipsLatest NewsStock TipsTop News

IndusInd Bank Stock Slips Despite Strong Results


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.