Swinging between gains and losses amid large volumes, IndusInd Bank is up marginally this afternoon. The IndusInd Bank counters on the stock exchanges witness unusually huge volumes today.
The stock is trading at Rs 1405, not far from an all-time high of Rs 1425 it had touched on Tuesday (28 March 2017).
On BSE, the IndusInd Bank counter has clocked a volume of about 3.7 million shares so far in the session, as against average daily volume of just around 1.35 lakh shares.
On the National Stock Exchange, nearly 1.2 million shares have changed hands so far.
Several analysts and brokerages including CLSA have raised the stock's ratings. CLSA expects the bank to record a 25% earnings growth over the next three years, saying growth in IndusInd’s loans will be led by an increasing share of non-auto retail loans that it plans to cross-sell to its existing customer base.
Meanwhile, IndusInd Bank has extended its agreement with Lohia Industries by offering 3-wheeler financing in the E-rickshaw category.
Lohia Auto Industries announced that IndusInd Bank would be its preferred financier for financing their electric three wheelers under the e-rickshaw category. The bank is already providing financial assistance for diesel vehicles.
The tie-up with Lohia will simplify the process for customers to take up hassle free three-wheeler loans at competitive prices.
