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IndusInd Bank stock rises over 6% ahead of Q4 earnings

Share price of IndusInd Bank rose 6.11% intraday to Rs 401.5. Earlier, shares of IndusInd Bank opened 3.15% higher at Rs 395.15 on BSE

twitter-logoBusinessToday.In | April 27, 2020 | Updated 11:50 IST
IndusInd Bank stock rises over 6% ahead of Q4 earnings
Share price of IndusInd Bank has gained after 2 days of consecutive fall

IndusInd Bank share price rose in early trade ahead of the lender's Q4 earnings to be announced later in the day. Share price of IndusInd Bank rose 6.11% intraday to Rs 401.5. Earlier, shares of IndusInd Bank opened 3.15% higher at Rs 395.15 on BSE.

Share price of IndusInd Bank has gained after 2 days of consecutive fall. However, it has fallen over 3.26% in one month and 73.68% since the beginning of the year. It has lost 76.56% in the last one year.

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IndusInd Bank share price currently trades higher than higher than 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages.

The lender's net advances rose 12.6% year-on-year to Rs 2,09,914 crore as of March 31, 2020, as against Rs 1,86,393 crore in a year-ago period. The lender reported 1% monthly jump from Rs 2,07,413 crore recorded as of December 31, 2019.

The bank's deposits rose 3.8% y-o-y to Rs 2,16,713 crore from Rs 1,94,868 crore. However, they declined 6.7% on a quarterly basis.

The filing further added bank's CASA (Current and Savings Account ratio) ratio stood at 40.5% compared with 42.4% as of December 31, and 43.1% a year-ago quarter.

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