IndusInd Bank soars 7% on in-line June quarter result, capital raising plan

The lender's Board approved to raise capital, via preferential issue, of up to Rs 3,288 crore.

Shares of IndusInd Bank zoomed 7 per cent to Rs 564 on the BSE on Wednesday after the bank's June quarter earnings came largely in-line with analysts expectations. It's standalone net profit came in at Rs 460.64 crore for the first quarter ended June 30, down 68 per cent compared to a net profit of Rs 1,432.50 crore in the same quarter previous fiscal.

Analysts at ICICI Securities had expected the private lender's net profit to plunge 83.5 per cent year-on-year (YoY) to Rs 236.8 crore in the recently concluded quarter. Sequentially, the decline would have been 21.5 per cent from