IndusInd Bank drops 3% as analysts see limited near-term upside post Q3

IndusInd Bank share price: Shares of IndusInd Bank declined 4 per cent to Rs 1,550 apiece on the BSE in Friday's intraday trade after its Q3FY24 results

Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside.
 

"The management has indicated that corporate slippages (from legacy stressed book) have ended and inch up in consumer finance slippages was more one-off, and should meaningfully improve Q4FY24 onwards. Investors may await actual delivery on slippage decline, potentially limiting near-term upside," said analysts at JM Financial.
 

Shares of IIB declined 3.9 per cent to Rs