Shares of IndusInd Bank today rallied on the bourses after the company posted a 34% rise in its third quarter net profit.
Cheered by a good sets of results, shares of the private sector lender climbed 6.19% to close at Rs 260.85 on the BSE.
In a similar fashion, the scrip gained 6.66% to settle at Rs 262 on the NSE.
IndusInd Bank posted 34% increase in net profit at Rs 205.9 crore for the third quarter ended December 31.
The bank had recorded a net profit of Rs 153.8 crore in the corresponding quarter last fiscal, it said in a filing to the BSE.
In a strong market, where the BSE benchmark Sensex zoomed up by 350.37 points, other banking stocks also fared well.
Yes Bank rose 5.70%, Union Bank ended 4.77% higher, PNB surged 4.49%, SBI gained 3.93% and ICICI Bank was up 3.85%.
Hopes of rate cut by the RBI also fuelled buying in these stocks.