IndusInd Bank slumps 20% as bad loans may rise amid Covid-19 outbreak

Last week, the stock of the private lender had hit an 8 year low of Rs 235.55 on the National Stock Exchange (NSE) with the bank's market-capitalisation slipping below the Rs 20,000 crore-mark

Shares of IndusInd Bank were locked in the 20 per cent lower circuit in an otherwise firm market, at Rs 329.25, on the BSE on Tuesday after the bank said the outbreak of coronavirus (Covid-19) could push up its credit costs to around 200 to 210 basis point in March 2020 quarter, indicating a rise in bad loans. At 9:45 am, the S&P BSE Sensex was at 28,996.35, up 556 points or nearly 2 per cent.

In an analysts call on Monday, the management said the near-term impact of covid-19 would have limited impact on their portfolio, assuming a 3-month