IndusInd Bank hits lowest level since January 2017, slips 16% in 8 days

The stock price declined despite bank's clarification that it has exposure of Rs 995 crore in telecom company, which is standard.

Shares of IndusInd Bank slipped 5 per cent to hit a fresh over three-year low of Rs 1,118 on the BSE on Tuesday despite the bank’s clarification that its exposure to the telecom company is standard.

The private sector lender's stock was trading at its lowest level since January 05, 2017. In the past eight trading days, IndusInd Bank's stock price has slipped 16 per cent, as compared to a 1 per cent decline in the benchmark S&P BSE Sensex.

Investors have lost Rs 15,000 crore after a sharp fall in share price of the bank during the