IndusInd Bank gains on inking pact with Japan Bank for International Cooperation
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IndusInd Bank is currently trading at Rs. 1122.00, up by 2.05 points or 0.18% from its previous closing of Rs. 1119.95 on the BSE.
The scrip opened at Rs. 1112.20 and has touched a high and low of Rs. 1131.55 and Rs. 1112.20 respectively. So far 30069 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1275.25 on 20-Sep-2022 and a 52 week low of Rs. 763.75 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1149.50 and Rs. 1104.05 respectively. The current market cap of the company is Rs. 86908.02 crore.
The promoters holding in the company stood at 16.50%, while Institutions and Non-Institutions held 69.06% and 14.45% respectively.
IndusInd Bank has entered into a $100 million long-term loan agreement with the Japan Bank for International Cooperation (JBIC). The funds thus raised, will be used by IndusInd Bank to foster the growth of Japanese construction equipment companies in India through need-based credit facilities to the upstream and downstream companies. Mizuho Bank Japan, the Shizuoka Bank Singapore and the Joyo Bank Japan will also co-finance in this facility.
Under this initiative, IndusInd Bank will provide credit facilities to companies that comprise the supply chain of the Japanese original equipment manufacturers (OEMs) in India. Currently, the program will cover the component suppliers and dealers of the selected Japanese OEMs, as well as the final buyers of the construction machinery manufactured by those companies.
IndusInd Bank is one of the fastest-growing banks in the banking sector in India.
