Indusind bank shares: Private sector lender IndusInd Bank shares opened with a huge decline today. The reason for this is that on a disturbance of the bank’s accounting, brokerage firms downed its rating and also reduced the target price. Due to this, IndusInd Bank shares opened with more than 5 per cent decline today. After shopping at a lower level, there was some recovery in the shares but it is still in a very weak condition. Currently, it falls 1.83 per cent to Rs 766.05 on BSE. Today it was down 5.68 per cent to open at Rs 735.95.
What was the disturbance in Indusind Bank?
On Thursday evening, IndusInd Bank said in an exchange filing that the bank’s Internal Audit Committee (IAD) is investigating the MFI business of the bank to investigate the questions raised. The bank’s IAD filed a report on 8 May 2025, in which it was revealed that ₹ 674 crore was incorrectly shown in the three quarters of the financial year 2025 as interest and then it was completely overturned on 10 January.
After receiving the complaint of whistle blower, the Audit Committee of the Board of IndusInd also asked the IAD to review the transactions recorded in ‘other assets’ and ‘other licenses’. In its report, the IAD said that in ‘other assets’, a unique balance of ₹ 595 crore was shown which was adjusted in January 2025 with the balance of ‘Other Liberations’ accounts. The IAD has investigated important employees regarding this. The bank said in the exchange filing that the board is taking necessary steps and will take appropriate action to decide the accountability of those responsible in this case.
What is the trend of brokerage firms?
The brokerage firm CLSA has downed the rating of IndusInd Bank to dow and has reduced the target price to ₹ 780. The CLSA says that adjusting an additional interest income of ₹ 674 crore means that Joe Joe showed Interest Margin (NIM), in fact 17 basis points were less than 0.17 percent. The CLSA has reduced the bank’s financial year 2025 NET profit estimate by 22 per cent, while due to decline in NIM and sluggish growth, the financial year 2026 has also cut the estimate of 13 per cent and the estimate of FY 2027 by 17 per cent. Another brokerage firm Morgan Stamley says that the financial year 2026 for the bank and the financial year 2027 earnings is a decline of 15-20 per cent. The brokerage firm has given it an equal weight rating at a target price of ₹ 755.
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