IndusInd Bank’s stock hit a three-year low on Tuesday, when it tanked over two per cent to end the day at Rs 1,140. Even if over 70 per cent of analysts polled by Bloomberg are positive with an average target price (Rs 1,676), the Street’s actions don’t echo this stance given that, among top private banks, IndusInd has had the biggest fall of over 24 per cent in CY2020 so far.
Marred by concerns, especially the uncertainties over its telecom exposure, the compulsion to remain positive seems to be drying up fast. This probably explains why, despite the bank ...
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First Published: Tue, February 18 2020. 20:06 IST
