IndusInd Bank shares nosedived 28 percent even after the bank informed the stock exchanges that it was well-capitalized and profitable. In its filing, IndusInd Bank rubbished market speculations and said that figures about individual exposures doing the rounds were “bloated and outlandish.”

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At 12:45 pm, the stock price was trading at Rs 436.

The filing by the private lender also assured the shareholders that the Bank expects the net NPA of 1.05 percent last quarter to fall below 1 percent. Meanwhile, sector-wise, IndusInd said it has zero NPAs in Real Estate Developer Book (commercial & residential) and Jewellery financing portfolio.

While clarifying on the promoters shareholding, IndusInd informed the exchanges that it has already sought RBI's approval to increase its holding to 26 percent, and is awaiting further guidance. The promoter has also informed that it released non-disposal undertaking with the creation of a pledge of about 23.8 million shares of the Bank, which was originally raised to make a foreign acquisition that did not fructify.

Lastly, the lender reassured that it is maintaining liquidity well above 100 percent going up to 120 percent on a daily basis.

First Published:Mar 18, 2020 1:37 PM IST