IndusInd Bank drops ahead of Q3FY19 results

We expect the bank's PAT to be under pressure and may see a massive drop of 60%, owing to high provisions.

Jan 09, 2019 05:01 IST India Infoline News Service

IndusInd Bank
Shares of IndusInd Bank fell 1% in intraday trade on Wednesday with street estimates mixed for the private sector bank's Q3 earnings.

We expect the NII and pre-provision operating profit to be up 18.4% and 12%, respectively. However, PAT may be under pressure and is likely to see a massive drop of 60%, owing to high provisions. Read more.

Margins are likely to remain flat due to interest reversals on the IL&FS exposure negating the increases in MCLR.

IndusInd Bank Ltd is currently trading at Rs1,567.50 down by Rs10.1 or 0.64% from its previous closing of Rs1,577.60 on the BSE.

The scrip opened at Rs1,570.10 and has touched a high and low of Rs1,590.40 and Rs1,558.50 respectively. So far 13,83,109 (NSE+BSE) shares were traded on the counter.

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