IndusInd gets thumbs up

IndusInd Bank, which had closed yesterday at Rs.1053.85, went on to hit a new 52-week high today at Rs.1186.35 and remains among the top five gainers on the BSE. The circuit limit for the stock was revised from 10% to 15% due to high buying pressure.

As such banking stocks are up today, celebrating the telecom reforms, especially the moratorium news. This way banks are now assured that they are not looking at a hair cut or NPA. But for these measures, banks would have suffered huge losses.

The Bank also announced the opening of its 100th branch in Rajasthan.

As of 30 June 2021, the IndusInd Bank's distribution network included 2,015 branches and banking outlets and 2,870 onsite and offsite ATMS across 760 geographic locations across the country.