IndusInd Bank’s stock plummeted 15% on October 25, marking its steepest decline in nearly five months, following weaker-than-expected Q2 FY25 results. The bank’s consolidated net profit dropped 39.5% year-on-year to Rs 1,331 crore, missing estimates. While net interest income rose 5% to Rs 5,347 crore, it was below market expectations, and the net interest margin fell to 4.08% from 4.29% a year earlier.
It traded at Rs 1,099.30 at 9:55 am on the NSE. Despite the weak performance, HSBC kept a ‘buy’ rating intact but revised the target price lower to Rs 1,510 from Rs 1,770, citing weaker microfinance loan performance.
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Source: Moneycontrol
News Desk
