IndusInd Bank soars on getting RBI’s nod for setting up wholly owned subsidiary
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IndusInd Bank is currently trading at Rs. 1370.60, up by 22.90 points or 1.70% from its previous closing of Rs. 1347.70 on the BSE.
The scrip opened at Rs. 1360.05 and has touched a high and low of Rs. 1371.75 and Rs. 1357.30 respectively. So far 53440 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1694.35 on 15-Jan-2024 and a 52 week low of Rs. 1328.75 on 07-Aug-2024.
Last one week high and low of the scrip stood at Rs. 1377.10 and Rs. 1336.05 respectively. The current market cap of the company is Rs. 106578.15 crore.
The promoters holding in the company stood at 16.38%, while Institutions and Non-Institutions held 68.46% and 15.16% respectively.
IndusInd Bank has received approval from Reserve Bank of India (RBI) for setting up a wholly owned subsidiary to undertake asset management business of Mutual Fund along with infusing equity capital in the said asset management subsidiary, subject to the additional conditions as set out in the said letter.
In Q1FY25, the bank had reported 2.18% rise in consolidated net profit at Rs 2170.79 crore as compared to Rs 2124.50 crore for the same quarter in the previous year.
IndusInd Bank is one of the fastest-growing banks in the banking sector in India.
