IndusInd Bank shares have been on the rise in recent months, and analyst predictions suggest the trend will continue. The current share price is just a fraction of the 52-week high, making IndusInd an attractive investment for those looking to capitalize on the predicted growth.
What is the current share price of IndusInd Bank
The IndusInd Bank is a Mumbai-based bank which was founded in 1994. The bank has a current share price of Rs. 1,450. The bank’s main product is retail banking and it also offers commercial, corporate and investment banking services. The bank has 1,600 branches and 3,500 ATMs across the country.
What was the 52-week high and low for IndusInd Bank shares
IndusInd Bank shares hit a 52-week high of Rs 1,540 on the BSE on Wednesday after the lender said that it will raise up to Rs 15 billion through a qualified institutional placement (QIP). The stock surpassed its previous high of Rs 1,534, touched on July 10, 2019.
The Mumbai-based lender said in a regulatory filing that the board of directors will meet on November 25, 2019, to consider and approve the proposal for raising funds through a QIP.
“The bank intends to utilise the net proceeds from the QIP for augmenting its Tier-1 capital base to support future growth of its business and for other general corporate purposes,” IndusInd Bank said.
At 09:55 am, IndusInd Bank was trading 5% higher at Rs 1,523, as compared to a 0.63% rise in the S&P BSE Sensex. A combined 2.3 million equity shares changed hands on the counter on the NSE and BSE so far.
On Monday, IndusInd Bank reported a 27% jump in September quarter net profit at Rs 1,452 crore compared to Rs 1,143 crore in year-ago period. The lender’s total income during July-September quarter grew by 26% to Rs 9,615 crore from Rs 7,625 crore in year-ago period.
How has IndusInd Bank’s share price performed over the last year
IndusInd Bank’s share price has been on a roller coaster ride over the last year. The stock hit a 52-week high of Rs 1,602 in February 2020 but crashed to a 52-week low of Rs 564 in March 2020 amid the Covid-19 pandemic. The stock has since recovered and is currently trading at Rs 1,345.
The IndusInd Bank share price has been volatile over the last year due to the Covid-19 pandemic. The stock hit a 52-week high of Rs 1,602 in February 2020 but crashed to a 52-week low of Rs 564 in March 2020. The stock has since recovered and is currently trading at Rs 1,345.
IndusInd Bank is an Indian bank that offers commercial banking services. The bank was founded in 1994 and is headquartered in Mumbai. As of March 2020, the bank had 2,063 branches and 4,367 ATMs across India.
What analysts are saying about IndusInd Bank’s share price
IndusInd Bank’s share price has been on a roller coaster ride in the past few weeks. The stock hit a 52-week high of Rs 1,602 on August 29, only to crash to a low of Rs 1,378 on September 11.
What caused this sharp decline?
There are a few factors that analysts believe have weighed on the stock.
The first is the Reserve Bank of India’s (RBI) decision to ban the use of LoUs and LoCs for trade financing. This move was aimed at curbing fraudulent practices at banks, but IndusInd Bank is among the lenders that have been impacted the most.
The second factor is the recent spike in crude oil prices. IndusInd Bank has a large exposure to the aviation and oil & gas sectors, which could be under pressure if crude prices continue to rise.
Lastly, there are concerns about the bank’s asset quality. While the bank’s gross non-performing assets (NPA) ratio improved to 1.27% in Q1FY19 from 1.31% in Q4FY18, its net NPA ratio rose to 0.75% from 0.68%. This is something that investors will be closely watching going forward.
All these factors have led to a sharp decline in IndusInd Bank’s share price in the past few weeks. However, analysts believe that the stock is now attractively priced and believe that it is a good long-term bet.
What news stories are affecting IndusInd Bank’s share price
The share price of IndusInd Bank is affected by a number of news stories. The most recent and significant story is the RBI’s announcement of a ₹2 lakh crore liquidity injection into the banking system. This has led to a sharp increase in the share prices of banks across the board. Other news stories that have affected IndusInd Bank’s share price include the government’s announcements of measures to boost the economy, as well as the Reserve Bank of India’s (RBI) monetary policy decisions.
What major events have occurred recently that could impact IndusInd Bank’s share price
The IndusInd Bank share price could be impacted by a number of recent events. These include the RBI’s decision to cut interest rates, the government’s announcement of a new scheme to provide collateral-free loans to small businesses, and the bank’s own announcement of a new digital banking platform.
The RBI’s decision to cut interest rates is likely to have a positive impact on the IndusInd Bank share price. This is because lower interest rates make it cheaper for the bank to borrow money, which in turn could lead to higher profits. The government’s announcement of a new scheme to provide collateral-free loans to small businesses is also likely to be positive for the bank, as it will increase demand for loans and consequently help to boost the bank’s profits. Finally, the bank’s own announcement of a new digital banking platform could also help to increase its profits by making it easier for customers to access and use its services.
What other stocks do well when IndusInd Bank’s stock does well
IndusInd Bank’s stock is doing well, and other stocks are following suit. This is good news for investors, as it indicates that the bank is stable and profitable. Other stocks that tend to do well when IndusInd Bank’s stock does well include ICICI Bank, HDFC Bank, and Axis Bank. These banks are all leaders in the Indian banking industry, and they are all doing well financially. This is positive news for the Indian economy as a whole, as it indicates that the banking sector is strong and growing.
What other stocks do poorly when IndusInd Bank’s stock does poorly
When IndusInd Bank’s stock does poorly, other stocks in the same sector tend to follow suit. This is because investors tend to sell off all their bank stocks when one of them is underperforming. This can create a domino effect, with each successive bank stock falling in value. This can have a ripple effect throughout the entire economy, as banks are a vital part of the financial system.
Is now a good time to buy IndusInd Bank shares
Now is an excellent time to buy IndusInd Bank shares. The bank’s shares have been on a tear lately, climbing nearly 20% in the last month alone. The bank’s strong performance is due to a number of factors, including its growing loan portfolio, robust deposit growth, and expanding branch network.
With interest rates expected to remain low for the foreseeable future, IndusInd Bank is well-positioned to continue growing its business. For these reasons, now is an ideal time to buy IndusInd Bank shares.
What factors should I consider before buying or selling IndusInd Bank shares
Before making any decisions to buy or sell IndusInd Bank shares, it is important to consider a number of factors. These include the current economic conditions, the company’s financial health, and the share price history. You should also be aware of any recent news or developments that could impact the bank’s future.