IndusInd Bank shares surges 6% after RBI's assurance
This reassurance came to light amid the Reserve Bank directing the bank's board to address an estimated Rs 2,100 crore accounting discrepancy by the end of the month.
IndusInd Bank shares surges 6% after RBI's assurance
IndusInd Bank, a private-sector lender, saw its shares rise over 6% during the morning session on Monday after the Reserve Bank assured customers that the bank remains "well-capitalized."
This reassurance came to light amid the Reserve Bank directing the bank's board to address an estimated Rs 2,100 crore accounting discrepancy by the end of the month.
The stock gained 5.30% to reach Rs 707.75 on the Bombay Stock Exchange (BSE) and surged 5.58% to Rs 709.90 on the National Stock Exchange (NSE), making it the biggest gainer among firms listed on the Sensex and Nifty indices.
Earlier, IndusInd Bank revealed the accounting discrepancy, which it estimated would impact 2.35% of the bank's net worth. Following this disclosure, there was a significant price correction in the bank's shares.
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