Private sector lender IndusInd Bank is among the largecap companies that have been punished after posting lacklustre earnings in the September quarter (Q2FY25).
The stock slumped 19 per cent—the most in four years—on October 25 after the higher provisions for slippages in the microfinance (MFI) portfolio dragged its net profit down 40 per cent from the previous year.
In the past two weeks, the stock has languished around ₹1,060 mark amid weakness in the markets due to incessant selling by foreign portfolio investors.
Year-to-date, IndusInd shares are down 34 per cent even as the Nifty Bank index has gained 8 per cent. Given the underperformance, many wonder if IndusInd Bank is a good buy? If the target price set by analysts goes up, the stock can offer a 40 per cent upside from current levels.
Denne historien er fra November 13, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 13, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Pioneer of parallel cinema dies at 90
Veteran filmmaker Shyam Benegal, who heralded the Indian parallel cinema movement in the 1970s and 1980s with films such as Ankur, Nishant and Manthan, died on Monday, his daughter Pia said. He was 90.
How tech is changing the landscape of elder care
The concluding part of the silver economy series looks at innovative apps and wearables that are empowering seniors and their families
ALGO RHYTHM AND BLUES
Can Sebi's draft rules on algorithm-based trading level the playing field between institutional and non-institutional investors?
AVOIDING MIS-SELLING BY MF DISTRIBUTORS Say no to NFOs, buy direct plans and seek advice from Sebi RIAs
The Securities and Exchange Board of India (Sebi) has implemented a new rule to curb unnecessary portfolio churn by distributors, usually done during the launch of new fund offers (NFOs) to pocket higher commissions.
Amber Enterprises posts sharpest rise in 2 mths
13% gains driven by block deal in which 1% equity changed hands
NEW LISTINGS ADD 3% TO INDIA'S MCAP IN 2024
New listings through initial public offerings (IPOs) in 2024 contributed nearly 3 per cent (₹14 trillion) to India's market capitalisation, surpassing last year's contribution of 1.4 per cent (₹5 trillion).
Weak management commentary weighs on Siemens stock
Siemens's share price has lost ground in the past few sessions following weak management commentary.
Mkts stage sharp recovery after five days of fall
Equity benchmark indices Sensex and Nifty rebounded sharply on Monday after five days of steep decline amid value buying at lower levels and a rally in global markets.
Public offers see investor rush
The five initial public offerings (IPOs) that closed on Monday attracted cumulative bids worth ₹1.4 trillion against ₹2,909 crore they were looking to raise. These offerings were subscribed between 11 and 195 times.
Zomato pips Maruti, HUL in Sensex weight
Becomes first new-age firm to join 30-share benchmark
