IndusInd Bank slips 5% in a weak market despite strong Q3 update

While the deposit growth came in healthy at 3 per cent QoQ (up 14.3 per cent YoY to Rs 3.25 trillion), the CASA mix declined 40bp QoQ to 42 per cent

Shares of IndusInd Bank were up 3 per cent to Rs 1,273.20 in Wednesday’s intra-day trade, after the private lender posted 19 per cent year-on-year (YoY) increase in net advances at Rs 2.7 trillion by the end of December 31, 2022 (Q3FY23). Net deposits, too, grew 14 per cent YoY to Rs 3.25 trillion.

However, the stock fell 5 per cent to hit an intra-day low of Rs 1,206.25 per share. At 02:34 PM; it traded 1.5 per cent lower at Rs 1,222.50, as compared to 0.88 per cent decline in the S&P BSE Sensex. Earlier, IndusInd Bank hit