Stock market news: IndusInd Bank shares gain over 2%

NEW DELHI: Shares of IndusInd Bank Ltd. traded 2.47 per cent up in Monday's trade at 11:33AM (IST). Around 300851 shares changed hands on the counter. The stock opened at Rs 615.25 and touched an intraday high and low of Rs 633 and Rs 615.25, respectively, in the session so far.

The stock quoted a 52-week high of Rs 1672.95 and a 52-week low of Rs 235.55.

Kotak Mahindra Bank, backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank, people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets.

Financials
IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 47028.61 Crore).

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 5098.95 Crore and Net Non Performing Assets (Net NPAs) of Rs 1703.37 Crore.

IndusInd Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 24008.25 Crore to Sales Value (83.41 % of Total Sales), Income From Investment which contributed Rs 4282.19 Crore to Sales Value (14.87 % of Total Sales), Interest which contributed Rs 300.37 Crore to Sales Value (1.04 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 192.02 Crore to Sales Value (0.66 % of Total Sales) for the year ending 31-Mar-2020.

Valuation ratio
It quoted a price-to-earnings ratio of 13.3 and price to book value of 0.71.