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Shares of IndusInd Bank today closed with over 6 per cent gains and added Rs 4,371.61 crore to its market valuation after the company reported a 29 per cent surge in its December quarter net profit.
The stock surged 6.16 per cent to settle at Rs 1,233.45 on BSE. Intra-day, it zoomed 6.70 per cent to Rs 1,239.75.
On the NSE, shares of the company gained 6.29 per cent to end at Rs 1,233.80.
Led by the surge in stock price, the company’s market valuation moved up by Rs 4,371.61 crore to Rs 73,723.61 crore.
In terms of volume, 3.55 lakh shares of the company were traded on the BSE and over 58 lakh shares changed hands on the NSE during the day.
Mid-sized private sector lender IndusInd Bank had yesterday reported a 29 per cent surge in its December quarter net at Rs 750.64 crore, claiming that it was not impacted adversely by the demonetisation move.
The lender had posted a post-tax profit of Rs 581.02 crore in the October-December period last year.
Its Managing Director Ramesh Sobti attributed the profit jump to a 35 per cent growth in core net interest income at Rs 1,578 crore which grew on a faster decrease in cost of funds.
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