Mumbai: IndusInd Bank has engaged law firm Cyril Amarchand Mangaldas (CAM) for comprehensive legal counsel that would include scrutiny of the lender’s communication with all its stakeholders, sources told ET, after shocking disclosures on accounting gaps caused a ₹1,960-crore write-down and felled the bank’s chief executive earlier this week. CAM has stationed a dedicated team…
An external agency has reported discrepancies in IndusInd Bank‘s derivatives portfolio estimating a negative impact of Rs 1,979 crore as of June 30, 2024. It has also projected a 2.27% post-tax reduction in its net worth for December 2024 due to these irregularities. In its filing to the exchanges on Tuesday post markets hours, the…
The Indian market ended lower on Wednesday, paring early gains, as a decline in information technology stocks—spurred by concerns over U.S. economic growth—weighed on the broader market. Additionally, concerns about U.S. tariffs and their potential impact on the global economy continued to dampen sentiment. The benchmark BSE Sensex lost 72.56 points or 0.10% to close…
Private lender IndusInd Bank‘s internal review has estimated an adverse impact of approximately 2.35% of the bank’s net worth as of December 2024, according to an exchange filing on Monday. The review was undertaken following Reserve Bank of India’s (RBI’s) master directions on derivative portfolio of lenders, issued in September 2023. The review was related…
Hi, you’re listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch — where we bring you the latest news from the world of stock markets every single day. Let’s get to it: Nifty snapped its 3-day winning streak:Sensex dropped 217 pts to 74,115;…
The Indian market witnessed its worst day in nearly five months on Friday, with the Nifty 50 extending its longest monthly losing streak since 1996 amid growing concerns over domestic market conditions. The benchmark BSE Sensex lost 1414.33 points or 1.90% to close at 73,198.10, while the broader Nifty 50 index closed at 22,124.70, lower…
Promoter pledge holdings went up at the fastest clip in nine stocks in the December ended quarter. IndusInd Bank saw the steepest jump of 5.4% and was followed by Anand Rathi Wealth, Ashok Leyland, Anupam Rasayan, and Laurus Lab at 4.3%, 2.9%, 2.7%, and 2.7%, respectively. Others like GMR Airports, Asian Paints, Medplus Health Services,…
Indian benchmark equity indices marked their longest weekly losing streak since August 2023 on Friday, as a broad-based selloff continued amid persistent foreign investor outflows and disappointing corporate earnings. The NSE Nifty 50 declined 2.7% for the week, while the BSE Sensex fell 2.2%, recording losses for the fourth consecutive week. All sectoral indices logged…
Welcome to a brand-new episode of ET Market Watch! Your daily dose of market updates, stock movements, trends & more. This is your host Neha V Mahajan, Let’s hear the top 5 highlights of the day 1. Weak Q2 Earnings Impact Blue-Chip StocksDisappointing Q2 results from key companies dragged down the market. IndusInd Bank plunged…
IndusInd Bank has received the Reserve Bank of India’s (RBI’s) nod to set up a mutual fund asset management business. It will be a wholly-owned subsidiary, the bank said in its filing to the exchanges on Monday. The RBI has also allowed the private sector lender to infuse equity capital in the asset management subsidiary,…