IndusInd Bank Crashes 15%! Shocking Reasons Behind the Massive Fall
IndusInd Bank Crashes 15%! Shocking Reasons Behind the Massive Fall
IndusInd Bank Crashes 15%! Shocking Reasons Behind the Massive Fall
IndusInd Bank Crashes 15%! Shocking Reasons Behind the Massive Fall - 11.03.2025
Primary Reasons for the Stock Crash:
- Discrepancies in Derivatives Portfolio: Internal review found inconsistencies, impacting net worth by 2.35%.
- Potential Profit Hit: Could affect earnings by ₹1,500 crore, possibly more after an external review.
- CEO’s Short Tenure Extension: CEO Sumant Kathpalia received only a 1-year extension instead of 3 years, raising concerns.
- CFO Resignation: CFO resigned just before Q3 earnings, adding to investor anxiety.
- Impact on Financials: The hit must be taken to P&L (Profit & Loss) in Q4FY25, possibly leading to a loss.
- RBI's Directive on Investment Portfolio: Review was triggered by RBI’s September 2023 guidelines for lenders.
Brokerage Actions & Target Price Cuts:
- Nuvama Institutional Equities: Downgraded to Reduce, target price ₹750 (-16.7%).
- Kotak Institutional Equities: Reduce, target price ₹850 (-5.6%).
- Morgan Stanley: Equal-weight, target price ₹900 (-0.1%).
- IIFL Securities: Add, target price ₹910 (+1.1%).
- DAM Capital: Neutral, target price ₹920 (+2.2%).
- Motilal Oswal: Neutral, target price ₹925 (+2.7%).
Market Reaction:
- Stock dropped 15% in early trading, hitting ₹765.40 on NSE.
- Uncertainty over governance, financial stability, and future earnings added pressure.
- External auditor's report due by end-March 2025 could reveal further details.
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