IndusInd Bank shares Price: Shares of IndusInd Bank fell 2.5% to an intra-day low of Rs 1,369 as a sell-off in banks and other counters continued in sync with the overall slump in markets along with global peers.
The shares of the bank have fallen 1.2% in the last five days and erased investors’ wealth by over 2% in the last one month. The stock has fallen around 9% in the past six months and almost 2% in the last one year.
To compare, the benchmark index has risen 1.6% in the past one month. However, it also erased 0.5% gains in the last trading sessions. The index has risen 13.5% in the last six months. It has given a return of more than 26% in the past year.
The stock hit a 52-week high of Rs 1,694.50 on January 15, 2024. As of now, the stock is down more than 19% from its all-time high.
Q1 earnings – growth concerns
That apart, the bank’s consolidated net profit in Q1 rose 2.2% on year to Rs 2,171 crore compared to Rs 2,123.6 crore it posted in the same period a year ago. The slowdown in the bank’s growth came as the bank cautiously disbursed loans hurting its loan growth, plus lending margins declined a bit.
The bank’s net interest income increased by 11.1% on year to Rs 5,408 crore in Q1 of FY25, against Rs 5,867 crore in the corresponding quarter last fiscal.