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IndusInd Bank announced that Moody's Investors Service have reaffirmed the credit rating on the Bank as mentioned below:
Type
Rating (Outlook)
Rating Action
Long-term (LT) and Short-term (ST) foreign and local currency (LC) bank deposits and issuer ratings as well as Counterparty Risk Ratings (CRRs)
Ba1/NP (Stable)
Affirmed
Senior unsecured medium-term note program
(P)Ba1 (Stable)
LT and ST Counterparty Risk (CR) Assessments
Ba1(cr)/NP(cr) (Stable)
Moody's has placed IndusInd's Ba1 Baseline Credit Assessment (BCA) and adjusted BCA under review for downgrade.
The central bank highlighted key financial metrics, citing the bank's auditor-reviewed results for the quarter ended December 31, 2024. These results revealed a Capital Adequacy Ratio (CAR) of 16.46% and a Provision Coverage Ratio (PCR) of 70.20%. Further, the bank's Liquidity Coverage Ratio (LCR) stood at 113% as of 9 March 2025, comfortably exceeding the regulatory requirement of 100%.
The RBI also addressed the speculation directly, emphasizing that there is 'no need for depositors to react to the speculative reports at this juncture.' The statement confirmed that IndusInd Bank has engaged an external audit team to conduct a comprehensive review of its current systems, aiming to assess and account for any potential impact expeditiously. The RBI has directed the bank's board and management to complete the remedial actions within the current quarter (Q4FY25) and to make necessary disclosures to all stakeholders.
The RBI's intervention and clarification have effectively quelled market concerns, leading to the positive market reaction and a boost in investor confidence.
The central bank reassured that IndusInd Bank's financial health remains stable and is being closely monitored.
This positive market reaction followed a period of concern triggered by IndusInd Bank's disclosure of discrepancies in its derivative portfolio, identified during an internal review prompted by the RBI's new Master Direction on investment portfolios. The bank estimates a potential adverse impact of approximately 2.35% of its net worth as of December 2024, reportedly amounting to Rs 1,600 crore. The bank plans to absorb this impact in its Q4 FY25 or Q1 FY26 earnings.
Following the bank's disclosure on 10 March 2025, the IndusInd stock crashed 27.16% in a single day on 11 March 2025.
To ensure transparency, IndusInd Bank has engaged an independent external agency for review and validation of its internal findings. The bank has emphasized that its profitability and capital adequacy remain robust enough to absorb this one-time impact.
IndusInd Bank caters to both consumer and corporate customers. As of 31 December 2024, the bank’s distribution network included 3,063 branches/banking outlets and 2,993 onsite and offsite ATMs, as against 2,728 branches/banking outlets and 2,939 onsite and offsite ATMs as of 31 December 2023. The client base stood at 42 million as on 31 December 2024.
The private lender's standalone net profit tumbled 39.01% to Rs 1,401.28 crore while total income grew by 8.46% to Rs 15,151.01 crore in Q3 December 2024 over Q3 December 2023.
IndusInd Bank Ltd, Axis Bank Ltd, Gujarat State Petronet Ltd, Kaynes Technology India Ltd are among the other stocks to see a surge in volumes on BSE today, 12 March 2025.
Divis Laboratories Ltd witnessed volume of 24583 shares by 10:47 IST on BSE, a 8.7 times surge over two-week average daily volume of 2824 shares. The stock dropped 0.39% to Rs.5,520.00. Volumes stood at 1781 shares in the last session.
IndusInd Bank Ltd clocked volume of 33.57 lakh shares by 10:47 IST on BSE, a 5.52 times surge over two-week average daily volume of 6.08 lakh shares. The stock gained 4.67% to Rs.686.60. Volumes stood at 41.94 lakh shares in the last session.
Axis Bank Ltd witnessed volume of 3.43 lakh shares by 10:47 IST on BSE, a 4.56 times surge over two-week average daily volume of 75288 shares. The stock dropped 1.08% to Rs.1,014.50. Volumes stood at 78020 shares in the last session.
Gujarat State Petronet Ltd clocked volume of 93113 shares by 10:47 IST on BSE, a 3.86 times surge over two-week average daily volume of 24132 shares. The stock gained 4.85% to Rs.287.65. Volumes stood at 26057 shares in the last session.
Kaynes Technology India Ltd saw volume of 1.17 lakh shares by 10:47 IST on BSE, a 3.75 fold spurt over two-week average daily volume of 31128 shares. The stock dropped 3.83% to Rs.4,140.65. Volumes stood at 18528 shares in the last session.
According to the media reports, this could lead to an adverse impact on its net worth by about Rs 1600 crore, and the bank plans to absorb this loss in its fourth-quarter earnings or the first quarter of the next fiscal year.
To ensure transparency, the bank has appointed an external agency for an independent review and validation of the internal findings. The bank will adjust its financial statements based on the external agency's final report.
IndusInd Bank has stated that its profitability and capital adequacy remain strong enough to absorb the one-time impact.
IndusInd Bank Ltd, HEG Ltd, Tata Communications Ltd, Tube Investments of India Ltd are among the other stocks to see a surge in volumes on BSE today, 11 March 2025.
Max Financial Services Ltd registered volume of 87653 shares by 10:47 IST on BSE, a 8.37 fold spurt over two-week average daily volume of 10470 shares. The stock rose 3.29% to Rs.1,074.75. Volumes stood at 3374 shares in the last session.
IndusInd Bank Ltd notched up volume of 13.01 lakh shares by 10:47 IST on BSE, a 8.14 fold spurt over two-week average daily volume of 1.60 lakh shares. The stock slipped 21.83% to Rs.704.00. Volumes stood at 4.49 lakh shares in the last session.
HEG Ltd witnessed volume of 1.29 lakh shares by 10:47 IST on BSE, a 2.78 times surge over two-week average daily volume of 46284 shares. The stock increased 6.68% to Rs.413.05. Volumes stood at 31867 shares in the last session.
Tata Communications Ltd clocked volume of 24649 shares by 10:47 IST on BSE, a 2.56 times surge over two-week average daily volume of 9620 shares. The stock gained 5.22% to Rs.1,444.00. Volumes stood at 6527 shares in the last session.
Tube Investments of India Ltd saw volume of 19451 shares by 10:47 IST on BSE, a 2.1 fold spurt over two-week average daily volume of 9271 shares. The stock increased 6.41% to Rs.2,889.50. Volumes stood at 6777 shares in the last session.
At 13:25 IST, the barometer index, the S&P BSE Sensex declined 51.06 points, or 0.07%, to 74,064.11. The Nifty 50 index added 5.85 points, or 0.03%, to 22,466.15.
In the broader market, the S&P BSE Mid-Cap index fell 0.02% and the S&P BSE Small-Cap index declined 1.09%.
The market breadth was weak. On the BSE, 1,167 shares rose and 2,663 shares fell. A total of 133 shares were unchanged.
Gainers & Losers:
Trent (up 3.36%), Sun Pharma (up 2.69%), ICICI Bank (up 2.34%), Bharti Airtel (up 1.86%) and Bharat Petroleum Corporation (BPCL) (up 1.59%) were the major Nifty50 gainers.
IndusInd Bank (down 26.01%), Infosys (down 2.87%), Bajaj Finserv (down 2.47%), Wipro (down 1.99%) and Power Grid Corporation of India (down 1.90%) were the major Nifty50 losers.
IndusInd Bank slumped 26.01% after the bank reported discrepancies in account balances within its derivative portfolio following an internal review. The bank estimates a potential adverse impact of approximately 2.35% of its net worth as of December 2024. The discrepancies were identified during a review of 'Other Asset and Other Liability accounts' related to the derivative portfolio, prompted by the implementation of the RBI's new Master Direction on investment portfolios.
Stocks in Spotlight:
Bharat Electronics (BEL) rose 0.92%. The company announced that it has received additional orders worth Rs 843 crore since the last disclosure on 6 March, 2025.
Anupam Rasayan India shed 0.56%. The company has signed a 10-year letter of intent (LoI) with a leading Korean multinational in specialty chemicals, for the supply of a high-performance niche chemical, expected to begin in FY26.
Indoco Remedies declined 4.04% after its Clinical Research Organization, AnaCipher, located in Hyderabad, received one Form 483 from the United States Food and Drug Administration (US FDA) at the end of an inspection.
Centum Electronics jumped 3.89% after the company informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,219.65 per equity share.
Allcargo Gati slipped 3.82% after the company’s total volume, including surface and air express, stood at 95 kilotons (kt) in February 2025, down 5% from 100 kt in February 2024.
Nectar Lifesciences was locked in 5% lower circuit after the company said that its Punjab-based API manufacturing facility had received seven observations, following an EU regulatory inspection.
Global Markets:
Most European shares advanced as traders will be focusing on earnings from Persimmon, Lego and Leonardo are also set to be released Tuesday.
Most Asian stocks declined on Tuesday, mirroring Wall Street losses as fears grew that tariffs and political upheaval could derail growth in the world's largest economy.
Investor concerns deepened over a potential slowdown in US economic expansion after President Donald Trump escalated trade tensions and continued to cut spending while unsettling long-standing geopolitical alliances.
In Japan, fresh government data showed the economy grew at an annualized rate of 2.2% in Q4, down from an earlier estimate of 2.8%. However, the reading remained well above the previous quarter’s 1.2% expansion. Quarter-on-quarter, GDP growth was revised slightly lower to 0.6% from 0.7%, still ahead of the prior 0.3% pace.
On Wall Street, US stocks nosedived Monday, with the S&P 500 dropping 2.7%, the Dow Jones Industrial Average losing 2%, and the NASDAQ Composite plunging 4%—largely driven by steep declines in major tech stocks.
Tesla Inc. led the selloff with a 15% plunge, while NVIDIA Corporation fell 5.1%. Broadcom Inc. shed 5.4%, and Arm Holdings declined 7.3%.
Bond markets reacted sharply, with 10-year Treasury yields slipping as investors bet that an economic slowdown could push the Federal Reserve toward interest rate cuts.
All eyes are now on the consumer price inflation report due Wednesday, a key data point ahead of next week’s Fed interest rate decision.
Last week, Fed Chair Jerome Powell signaled a cautious approach, emphasizing that the central bank was closely monitoring the impact of Trump’s recent economic policies, including tariffs and federal worker layoffs.
Zensar Technologies Ltd, Nuvama Wealth Management Ltd, Senco Gold Ltd and Triveni Turbine Ltd are among the other losers in the BSE's 'A' group today, 11 March 2025.
IndusInd Bank Ltd crashed 27.21% to Rs 655.55 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 36.29 lakh shares were traded on the counter so far as against the average daily volumes of 1.08 lakh shares in the past one month.
Zensar Technologies Ltd tumbled 6.27% to Rs 680.45. The stock was the second biggest loser in 'A' group.On the BSE, 70883 shares were traded on the counter so far as against the average daily volumes of 74898 shares in the past one month.
Nuvama Wealth Management Ltd lost 5.85% to Rs 5211.3. The stock was the third biggest loser in 'A' group.On the BSE, 8485 shares were traded on the counter so far as against the average daily volumes of 4151 shares in the past one month.
Senco Gold Ltd fell 5.69% to Rs 273.4. The stock was the fourth biggest loser in 'A' group.On the BSE, 71831 shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one month.
Triveni Turbine Ltd dropped 5.69% to Rs 532.15. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.14 lakh shares were traded on the counter so far as against the average daily volumes of 1.3 lakh shares in the past one month.