IndusInd Bank gains 2% on strong outlook; stock up 53% in 3 months

Analysts expect that the bank's credit growth and profitability is expected to be strong on account of revived demand in MFI and vehicle finance.

Shares of IndusInd Bank hit an over 10-month high of Rs 1,238.15 on the BSE in Friday's intra-day trade, in an otherwise weak market, on hopes of bright outlook. The stock of the private lender traded at its highest level since November 2, 2021 and had hit a 52-week high of Rs 1,241.85 on October 28, 2021.

At 10:01 am; IndusInd Bank quoted 2 per cent higher at Rs 1,217, as compared to 1.3 per cent decline in the S&P BSE Sensex. In the past three months, it has zoomed 53 per cent, as against 15 per cent rise