IndusInd Bank surges 3% ahead of Q1 results; here's what analysts expect

Analysts at Phillip Capital have an outlier estimate for the bank's net profit for this quarter. They peg the PAT at Rs 585.2 crore, up a whopping 94 per cent QoQ.

Shares of private lender IndusInd Bank were trading 3 per cent higher at Rs 522 on the BSE on Tuesday ahead of its April-June quarter result for the financial year 2020-21 (Q!FY21). A combined 2.68 million shares had changed hands on the counter on the NSE and BSE till 9:37 am, when the stock was quoting at Rs 519 apiece, up 2.4 per cent on the BSE. In comparison, the benchmark S&P BSE Sensex was at 38,222.29 level, up 287.56 points or 0.76 per cent. 

Recently, the bank received the Reserve Bank of India (RBI's) nod to allow Hedge fund