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IndusInd Bank shares fell by 25% to 52-week low, know the reason for this big fall
IndusInd Bank: On Tuesday, the price of IndusInd Bank shares on NSE fell by Rs 226.90 or 25.20% to Rs 673.60 per share at 01:45 pm. This price is also the lowest level of 52 weeks for the bank's shares. Let us know what is the reason for this big fall in private sector banks.
IndusInd Bank stocks fell for the fifth consecutive day. The stocks of the private sector bank fell more than 25% during Tuesday's morning trade. The bank reported certain anomalies in its derivative portfolio.
On Tuesday, IndusInd Bank's share price on NSE fell by Rs 226.90 or 25.20% to Rs 673.60 per share as on 01:45 pm. This is the 52-week low price level of the bank's stocks. Meanwhile, the firm's stock fell by Rs 227.70 or 25.28% to Rs 673.00 per share on the Bombay Stock Exchange. This stock fell the most in the BSE Sensex of 30 stocks.
The market stayed flat in the afternoon session. The market's benchmark indices have reached the red mark. The BSE Sensex is down by 36.65 (0.04%) points to 74,096.50. The NSE Nifty, on the other hand, fell by 19.50 (0.09%) to 22,479.80. IndusInd Bank, in a Monday filing, said during an in-house examination of the derivative portfolio processes, it found certain discrepancies in the account balance.
