IndusInd Bank gains 8% as promoters set to pick additional shares

The promoters, IndusInd International Holdings Ltd. and IndusInd Ltd., currently hold 14.68 per cent of IndusInd Banks paid-up share capital

Shares of IndusInd Bank shot up 8 per cent to Rs 455 on the BSE on Monday after the private sector lender said that its promoters would acquire additional shares of the Bank from the secondary market.

In the past three months till Friday, IndusInd Bank's stock had underperformed the market by falling 61 per cent, as compared to 14 per cent decline in the S&P BSE Sensex. The stock tanked 79 per cent from its all-time high level of Rs 2,038, touched on August 3, 2018. The stock hit a 52-week low of Rs 236 on March 24,