IndusInd Bank Shares Continue Losses, Fall Deeper

IndusInd Bank shares have also continued their decline, recording steep losses in recent trading days. The share has come under severe selling pressure as a result of some negative events, such as irregularities in its derivatives book and a below-market extension of the CEO tenure. All these have been followed by a string of analyst downgrades, shaving further from investor confidence. Its own internal review revealed accounting irregularities that would have an effect on its net value, and worries about leadership consistency and internal control were raised as a result. The shares subsequently reached multi-year lows, while some analysts saw further falls looming. The sum total of the issues has really cut the market capitalization of the bank drastically and put question marks over the bank's prospective performance.

Source: Financial Markets News Desk