IndusInd Bank Ltd Share Price – NSE  / BSE

Banks, Small Cap

The move comes as the bank grapples with an ongoing probe into accounting discrepancies in its derivatives portfolio.

Kathpalia's exit, effective immediately, brings to a close his five-year tenure at the helm of the bank.

Deputy CEO and whole-time director Arun Khurana had also resigned a day earlier, citing the adverse accounting impact on the bank?s profit and loss due to ?incorrect accounting for internal derivative trades.? Khurana had previously held oversight of the bank?s treasury front office, a key function tied to the issue.

The leadership exits come after a series of senior-level changes in the bank's finance division. Khurana had been promoted to chief financial officer in January, following the resignation of former CFO Gobind Jain, who left citing personal reasons.

In the wake of the crisis, the bank?s board has sought the Reserve Bank of India?s (RBI) nod to form a ?committee of executives? under Section 10B(9) of the Banking Regulation Act, 1949. This interim team would assume CEO responsibilities until a permanent appointment is made.

The PWC report engaged by IndusInd Bank to quantify the losses due to discrepancies in its derivative portfolio has put the final number of the negative impact on the bank's net worth at Rs 1979 crore. Based on the report, the IndusInd Bank said it has assessed an adverse impact (on a post-tax basis) of 2.27% to the bank?s net worth as of December 2024 on account of these discrepancies. The final number by PWC is slightly lower than the 2.35% of net worth hit, the bank had estimated in March. The bank received the report from the external agency on April 15.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

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IndusInd Bank Ltd gained for a fifth straight session today. The stock is quoting at Rs 836.75, up 0.75% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.05% on the day, quoting at 24341.85. The Sensex is at 80323.93, up 0.13%. IndusInd Bank Ltd has added around 22.56% in last one month.

Meanwhile, Nifty Bank index of which IndusInd Bank Ltd is a constituent, has added around 9.05% in last one month and is currently quoting at 55432.8, down 0.01% on the day. The volume in the stock stood at 66.37 lakh shares today, compared to the daily average of 129.89 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 837.85, up 0.26% on the day. IndusInd Bank Ltd is down 44.79% in last one year as compared to a 7.68% gain in NIFTY and a 12.21% gain in the Nifty Bank index.

The PE of the stock is 8.95 based on TTM earnings ending December 24.

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In a clarification shared today, the bank said, the Bank has not engaged EY for a forensic audit as reported. As a part of the process of finalization of accounts, the Bank?s Internal Audit Department (IAD) is conducting a review of the Bank?s MFI business to examine certain concerns which have been brought to the Bank?s attention.

The lender emphasized that EY has been brought in solely to assist the Internal Audit Department in reviewing certain records of the Bank and added that the review by the bank is ongoing.

The clarification comes in response to media reports that triggered a sharp 4.88% fall in the bank?s share price, dragging it down to Rs 787.65 today.

Reports surfaced earlier today suggesting that IndusInd Bank had appointed EY for a second forensic probe?this time into a Rs 600 crore anomaly in its microfinance portfolio. The discrepancy, believed to be linked to interest income accruals, reportedly emerged during the statutory audit for the previous financial year.

Sources cited in the reports claimed that statutory auditors had issued an alert under Section 143(12) of the Companies Act, 2013?a provision invoked when fraud is suspected. This, in turn, prompted the bank to deepen its review process.

Importantly, this internal review is unfolding alongside a separate ongoing forensic audit by Grant Thornton Bharat, which is investigating irregularities in the bank?s forex derivatives operations.

While initial findings suggest the microfinance discrepancy may be limited to just a couple of quarters and not a multi-year issue, the back-to-back revelations have reignited concerns over the bank?s internal controls, governance standards, and accounting oversight.

For now, the bank is holding its ground?asserting transparency and cooperation?while markets await further clarity from the internal audit?s findings.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News

IndusInd Bank Ltd gained for a fifth straight session today. The stock is quoting at Rs 836.75, up 0.75% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.05% on the day, quoting at 24341.85. The Sensex is at 80323.93, up 0.13%. IndusInd Bank Ltd has added around 22.56% in last one month.

Meanwhile, Nifty Bank index of which IndusInd Bank Ltd is a constituent, has added around 9.05% in last one month and is currently quoting at 55432.8, down 0.01% on the day. The volume in the stock stood at 66.37 lakh shares today, compared to the daily average of 129.89 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 837.85, up 0.26% on the day. IndusInd Bank Ltd is down 44.79% in last one year as compared to a 7.68% gain in NIFTY and a 12.21% gain in the Nifty Bank index.

The PE of the stock is 8.95 based on TTM earnings ending December 24.

Powered by Capital Market - Live News

In a clarification shared today, the bank said, the Bank has not engaged EY for a forensic audit as reported. As a part of the process of finalization of accounts, the Bank?s Internal Audit Department (IAD) is conducting a review of the Bank?s MFI business to examine certain concerns which have been brought to the Bank?s attention.

The lender emphasized that EY has been brought in solely to assist the Internal Audit Department in reviewing certain records of the Bank and added that the review by the bank is ongoing.

The clarification comes in response to media reports that triggered a sharp 4.88% fall in the bank?s share price, dragging it down to Rs 787.65 today.

Reports surfaced earlier today suggesting that IndusInd Bank had appointed EY for a second forensic probe?this time into a Rs 600 crore anomaly in its microfinance portfolio. The discrepancy, believed to be linked to interest income accruals, reportedly emerged during the statutory audit for the previous financial year.

Sources cited in the reports claimed that statutory auditors had issued an alert under Section 143(12) of the Companies Act, 2013?a provision invoked when fraud is suspected. This, in turn, prompted the bank to deepen its review process.

Importantly, this internal review is unfolding alongside a separate ongoing forensic audit by Grant Thornton Bharat, which is investigating irregularities in the bank?s forex derivatives operations.

While initial findings suggest the microfinance discrepancy may be limited to just a couple of quarters and not a multi-year issue, the back-to-back revelations have reignited concerns over the bank?s internal controls, governance standards, and accounting oversight.

For now, the bank is holding its ground?asserting transparency and cooperation?while markets await further clarity from the internal audit?s findings.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News

The development has raised fresh questions over the bank?s governance and accounting practices.

According to media reports, the discrepancy?related to the accrual of interest income?was discovered during the ongoing statutory audit for the previous financial year. The statutory auditors allegedly issued an additional communication under Section 143(12) of the Companies Act, 2013, prompting the bank to launch a further investigation via EY.

This audit comes on top of an ongoing forensic probe by Grant Thornton Bharat (GTB), which is investigating irregularities in the bank?s forex derivatives portfolio.

The reports indicated that the latest discrepancy likely occurred during the second or third quarter of the previous fiscal year and is not expected to span multiple years. EY's role is to determine whether any fraudulent activity took place and pinpoint accountability.

The stock exchange sought clarification from IndusInd Bank on 22 April 2025, regarding the news report, with the bank?s response still awaited.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News

The move comes as the bank grapples with an ongoing probe into accounting discrepancies in its derivatives portfolio.

Kathpalia's exit, effective immediately, brings to a close his five-year tenure at the helm of the bank.

Deputy CEO and whole-time director Arun Khurana had also resigned a day earlier, citing the adverse accounting impact on the bank?s profit and loss due to ?incorrect accounting for internal derivative trades.? Khurana had previously held oversight of the bank?s treasury front office, a key function tied to the issue.

The leadership exits come after a series of senior-level changes in the bank's finance division. Khurana had been promoted to chief financial officer in January, following the resignation of former CFO Gobind Jain, who left citing personal reasons.

In the wake of the crisis, the bank?s board has sought the Reserve Bank of India?s (RBI) nod to form a ?committee of executives? under Section 10B(9) of the Banking Regulation Act, 1949. This interim team would assume CEO responsibilities until a permanent appointment is made.

The PWC report engaged by IndusInd Bank to quantify the losses due to discrepancies in its derivative portfolio has put the final number of the negative impact on the bank's net worth at Rs 1979 crore. Based on the report, the IndusInd Bank said it has assessed an adverse impact (on a post-tax basis) of 2.27% to the bank?s net worth as of December 2024 on account of these discrepancies. The final number by PWC is slightly lower than the 2.35% of net worth hit, the bank had estimated in March. The bank received the report from the external agency on April 15.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News

IndusInd Bank Ltd gained for a fifth straight session today. The stock is quoting at Rs 836.75, up 0.75% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.05% on the day, quoting at 24341.85. The Sensex is at 80323.93, up 0.13%. IndusInd Bank Ltd has added around 22.56% in last one month.

Meanwhile, Nifty Bank index of which IndusInd Bank Ltd is a constituent, has added around 9.05% in last one month and is currently quoting at 55432.8, down 0.01% on the day. The volume in the stock stood at 66.37 lakh shares today, compared to the daily average of 129.89 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 837.85, up 0.26% on the day. IndusInd Bank Ltd is down 44.79% in last one year as compared to a 7.68% gain in NIFTY and a 12.21% gain in the Nifty Bank index.

The PE of the stock is 8.95 based on TTM earnings ending December 24.

Powered by Capital Market - Live News

In a clarification shared today, the bank said, the Bank has not engaged EY for a forensic audit as reported. As a part of the process of finalization of accounts, the Bank?s Internal Audit Department (IAD) is conducting a review of the Bank?s MFI business to examine certain concerns which have been brought to the Bank?s attention.

The lender emphasized that EY has been brought in solely to assist the Internal Audit Department in reviewing certain records of the Bank and added that the review by the bank is ongoing.

The clarification comes in response to media reports that triggered a sharp 4.88% fall in the bank?s share price, dragging it down to Rs 787.65 today.

Reports surfaced earlier today suggesting that IndusInd Bank had appointed EY for a second forensic probe?this time into a Rs 600 crore anomaly in its microfinance portfolio. The discrepancy, believed to be linked to interest income accruals, reportedly emerged during the statutory audit for the previous financial year.

Sources cited in the reports claimed that statutory auditors had issued an alert under Section 143(12) of the Companies Act, 2013?a provision invoked when fraud is suspected. This, in turn, prompted the bank to deepen its review process.

Importantly, this internal review is unfolding alongside a separate ongoing forensic audit by Grant Thornton Bharat, which is investigating irregularities in the bank?s forex derivatives operations.

While initial findings suggest the microfinance discrepancy may be limited to just a couple of quarters and not a multi-year issue, the back-to-back revelations have reignited concerns over the bank?s internal controls, governance standards, and accounting oversight.

For now, the bank is holding its ground?asserting transparency and cooperation?while markets await further clarity from the internal audit?s findings.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News

IndusInd Bank Ltd gained for a fifth straight session today. The stock is quoting at Rs 836.75, up 0.75% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.05% on the day, quoting at 24341.85. The Sensex is at 80323.93, up 0.13%. IndusInd Bank Ltd has added around 22.56% in last one month.

Meanwhile, Nifty Bank index of which IndusInd Bank Ltd is a constituent, has added around 9.05% in last one month and is currently quoting at 55432.8, down 0.01% on the day. The volume in the stock stood at 66.37 lakh shares today, compared to the daily average of 129.89 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 837.85, up 0.26% on the day. IndusInd Bank Ltd is down 44.79% in last one year as compared to a 7.68% gain in NIFTY and a 12.21% gain in the Nifty Bank index.

The PE of the stock is 8.95 based on TTM earnings ending December 24.

Powered by Capital Market - Live News

In a clarification shared today, the bank said, the Bank has not engaged EY for a forensic audit as reported. As a part of the process of finalization of accounts, the Bank?s Internal Audit Department (IAD) is conducting a review of the Bank?s MFI business to examine certain concerns which have been brought to the Bank?s attention.

The lender emphasized that EY has been brought in solely to assist the Internal Audit Department in reviewing certain records of the Bank and added that the review by the bank is ongoing.

The clarification comes in response to media reports that triggered a sharp 4.88% fall in the bank?s share price, dragging it down to Rs 787.65 today.

Reports surfaced earlier today suggesting that IndusInd Bank had appointed EY for a second forensic probe?this time into a Rs 600 crore anomaly in its microfinance portfolio. The discrepancy, believed to be linked to interest income accruals, reportedly emerged during the statutory audit for the previous financial year.

Sources cited in the reports claimed that statutory auditors had issued an alert under Section 143(12) of the Companies Act, 2013?a provision invoked when fraud is suspected. This, in turn, prompted the bank to deepen its review process.

Importantly, this internal review is unfolding alongside a separate ongoing forensic audit by Grant Thornton Bharat, which is investigating irregularities in the bank?s forex derivatives operations.

While initial findings suggest the microfinance discrepancy may be limited to just a couple of quarters and not a multi-year issue, the back-to-back revelations have reignited concerns over the bank?s internal controls, governance standards, and accounting oversight.

For now, the bank is holding its ground?asserting transparency and cooperation?while markets await further clarity from the internal audit?s findings.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News

The development has raised fresh questions over the bank?s governance and accounting practices.

According to media reports, the discrepancy?related to the accrual of interest income?was discovered during the ongoing statutory audit for the previous financial year. The statutory auditors allegedly issued an additional communication under Section 143(12) of the Companies Act, 2013, prompting the bank to launch a further investigation via EY.

This audit comes on top of an ongoing forensic probe by Grant Thornton Bharat (GTB), which is investigating irregularities in the bank?s forex derivatives portfolio.

The reports indicated that the latest discrepancy likely occurred during the second or third quarter of the previous fiscal year and is not expected to span multiple years. EY's role is to determine whether any fraudulent activity took place and pinpoint accountability.

The stock exchange sought clarification from IndusInd Bank on 22 April 2025, regarding the news report, with the bank?s response still awaited.

IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank?s standalone net profit declined 39% to Rs 1,401.28 crore while total income increased 8.5% YoY to Rs 15,151.01 crore in Q3 FY25 over Q3 FY24.

Powered by Capital Market - Live News