New Delhi, March 11 – Shares of IndusInd Bank witnessed a sharp decline of 23 percent in early trading on Tuesday, marking the fifth consecutive day of losses and pushing the stock to its 52-week low.
The steep decline followed the bank’s disclosure of certain discrepancies in its futures and options (F&O) portfolio, which raised investor concerns. On the Bombay Stock Exchange (BSE), IndusInd Bank’s stock plummeted by 22.8 percent, reaching the lower circuit limit at ₹695.25 per share. Meanwhile, on the National Stock Exchange (NSE), the stock dropped by 21.67 percent, hitting a 52-week low of ₹705.35 per share.
On Monday, IndusInd Bank had informed the stock exchanges that an internal review of its F&O portfolio revealed certain inconsistencies. The bank estimated that these discrepancies could have an adverse impact of approximately 2.35 percent on its total assets as of December 2024.
Investors remain cautious as the market reacts to the latest developments, with analysts closely monitoring the bank’s next steps in addressing the issue.
