IndusInd Bank soars 18% on operationally strong Q4; analysts maintain 'buy'

While the asset quality has weakened, its coverage has improved. The profit was above analysts' expectations and was driven by better operational performance.

Shares of IndusInd Bank surged 18.05 per cent intra-day, to hit a high of Rs 480.9, on the BSE on Tuesday after brokerages maintained 'buy' call on the stock due to its better-than-expected operationally strong March quarter performance.

During the day, the bank breached two upper limit circuits,10 per cent (Rs 448.08) and 15 per cent (Rs 468.45), before racing towards the 20 per cent circuit (Rs 488.20). 

At close, the stock quoting Rs 476 apiece, up 16.85 per cent on the BSE. In comparison, the benchmark S&P BSE Sensex ended at 32,114.52 levels, up 371.44 points or