Well, nobody saw this coming—at least not like this. IndusInd Bank, once considered one of the more stable private banks in India, just dropped a financial bombshell. For the first time in two decades, it reported a massive quarterly loss. Investors? Shaken. Analysts? Warning. And the stock? Well, it took a nose dive, crashing nearly 6% in early trading.
Stock Rollercoaster: From Freefall to a Brief Rebound
Thursday morning was rough. Early trading also witnessed sharp decline in shares of IndusInd Bank, which slipped to ₹725.65. That’s a pretty brutal fall for anyone holding tight to their positions. But like a twitch after a knockout punch, the stock tried to recover, bouncing back to ₹788.35 intraday. Still, the damage was done. The reason? The bank’s quarterly results were worse than expected—way worse.
The Numbers That Shook Everyone
The bank’s January–March net loss of ₹2,328.9 crore is the key takeaway. Just a year ago, it was in profit—₹2,349.15 crore to be exact. That’s not just a bad quarter. That’s a full-blown reversal. And it’s the first time in 20 years that the bank has found itself in the red.
Behind the Curtains: What Went So Wrong?
Turns out, it wasn’t just one thing—it was a storm. The bank got tangled in accounting errors, fraud in its microfinance division, and issues with how it reported certain data. That mess triggered internal audits, a forensic probe, and even top execs stepping down. Add to that a huge provision of ₹2,522 crore (way up from ₹950 crore last year), and you’ve got a disaster in the books.
Analysts Are Not Holding Back – “Sell While You Can”
Of the 45 analysts tracking the stock, about one-third are now waving red flags. UBS tagged it as “Sell” with a price target of ₹600. HSBC also cut it, to a target price of ₹660 Others such as CLSA and Nuvama too cut their targets, showing low faith in the bank’s trajectory.
Bottom line
For now, it’s panic mode. Whether the bank can turn it around is anyone’s guess—but for investors, this ride just got bumpy.
