For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

IndusInd Bank Jump 30% In A Week; Promoters Buy Additional Stake

|

Shares in private sector lender IndusInd Bank were up for the fifth straight session after its promoters bought additional shares of the bank from the open market.

The stock despite the rally is still far away from its 52-week high price struck on June 2, 2019 of Rs. 1601.75 per shares. Shares hit a 52-week low price of Rs. 236 per share on March 24, 2020.

IndusInd Bank Jump 30% In A Week; Promoters Buy Additional Stake
 

Currently, the bank promoter groups IndusInd International Holdings Ltd. and IndusInd Ltd are holding 14.68% of the paid up share capital. "The promoters shall now purchase additional shares from the open market within the overall regulatory limit prescribed for promoter equity holding cap," IndusInd Bank said in an exchange filing on Friday, June 5, 2020.

The bank said that its promoters in April had made an application to the RBI for increasing their permissible holding in the bank to 26%.

Also, the Supreme Court at 12:30 pm is scheduled to the hear the AGR matter of telecom companies. And the matter of allowing the telecom companies to spread their AGR dues over the 20 year or less tenure shall be taken up.

And with IndusInd Bank sharing considerable exposure to Vodafone Idea which is said to be 9% of its net worth, today's verdict later in the day by the Supreme Court will have a bearing on the stock.

GoodReturns.in

Read more about: indusind bank promoters
Story first published: Thursday, June 11, 2020, 11:28 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more