Shares of IndusInd Bank fell 27% today i.e. Tuesday (March 11). It has fallen by Rs 243 to ? 656.80. This is the biggest fall in a single day since November 2020. The bank had said in an exchange filing on Monday (March 10) that an internal review has revealed accounting discrepancies in the derivatives portfolio. Due to this, the bank’s earnings may decrease and the net worth may fall by 2.35%. What is the matter, who will be affected? What steps is IndusInd Bank taking now? The bank has launched a detailed internal review and has appointed an external agency to validate its findings. What is a derivative? A derivative is a financial contract between two parties. Whose value depends on the performance of the asset and the benchmark. Options, swaps and forward contracts are examples of this. They are used for work like risk hedging or speculative. Revenue grew 8% in the third quarter, but profit decreased by 39% The country’s fifth largest private sector lender IndusInd Bank made a net profit of Rs 1,402.33 crore in the third quarter of FY 2024-25. It has increased by 39% on a year-on-year basis. In the same quarter a year ago, the bank had a profit of Rs 2,301.49 crore. In the October-December quarter, the bank earned Rs 15,155.80 crore. This was 8.50% more than last year’s ? 13,968.17 crore. The bank said that the company’s profit has come down due to increase in expenses. Decline in stock market today The effect of the fall of up to 4% in the US markets is not visible on the Indian markets. Today i.e., on Tuesday (March 11), the Sensex is down by 35 points. It is trading around 74,000. Nifty is flat, it is trading at 22,460 level.
