D-Street's multi-bagger! IndusInd Bank surges 7% on higher net advances in Q1FY21; deposits rise 6% yoy

The bank's CASA ratio stood at 40.2% as of June 2020 compared to 40.4% as of March 2020 and 43% as of June 2019.

Jul 07, 2020 05:07 IST India Infoline News Service

IndusInd Bank
IndusInd Bank was among top multi-baggers on Tuesday after the lender presented its advances and deposits data for the period ending June 2020 (Q1FY21). On Sensex, the IndusInd stock has gained as much as 6.82% with an intraday high of Rs529.80 per piece before correcting.

According to the regulatory filing, IndusInd's net advances have risen by 4% to Rs2,00,357cr as on June 2020, compared to advances of Rs1,93,520cr recorded a year ago same period. However, the performance was lower compared to advances of Rs2,06,783cr as on March 2020.

Notably, IndusInd's deposits were much better compared to advances on a yearly basis.

The bank posted deposits of Rs2,11,970cr as on June 2020, increasing by 6% from Rs2,00,586cr as on June 2019. Deposits have shown a consistent rise, as the bank's this instrument stood at Rs2,02,040cr as on March 2020.

As of June 2020, the bank's retail deposits and deposits from small business customers amounted to Rs 67,318cr.

With that, the bank's CASA ratio stood at 40.2% as of June 2020 compared to 40.4% as of March 2020 and 43% as of June 2019.

By the end of the day, the IndusInd stock finished at Rs526.20 per piece up by 6.10% on Sensex. 

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