Friday , September 17 2021

IndusInd Bank shines as Moody’s upwards its outlook to stable

IndusInd Bank is currently trading at Rs. 985.15, up by 17.20 points or 1.78% from its previous closing of Rs. 967.95 on the BSE.

The scrip opened at Rs. 978.25 and has touched a high and low of Rs. 994.05 and Rs. 971.40 respectively. So far 214584 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1119.20 on 25-Feb-2021 and a 52 week low of Rs. 235.60 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1038.95 and Rs. 961.20 respectively. The current market cap of the company is Rs. 76370.51 crore.

The promoters holding in the company stood at 14.67%, while Institutions and Non-Institutions held 71.13% and 14.21% respectively.

Credit rating agency — Moody’s Investors Service has revised upwards its outlook on IndusInd Bank to ‘stable’ from ‘negative’ while affirming its rating. The change in the outlook is driven by improvement in its funding and capital, and the marginal hit on asset quality during the pandemic. The bank’s long-term local and foreign currency deposit ratings have been affirmed at ‘Ba1’, while the baseline credit assessment (BCA) and adjusted BCA have been affirmed at ‘Ba2’,

IndusInd Bank is as one of the fastest growing banks in the banking sector in India.

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