Market Performance
IndusInd Bank's share price gained 2% in early trade on Tuesday, rallying as much as 2.64% to ₹852.40 apiece on the BSE.
As of 9:30 AM, the stock was trading 1.50% higher at ₹843.
Despite the recent uptick:
- IndusInd Bank shares have recouped 29% over the past month.
- However, the stock is still down 13% on a year-to-date (YTD) basis.
- Over the past year, IndusInd Bank shares have dropped by 44%.
Main News
IndusInd Bank witnessed a sharp movement after Arun Khurana, the Deputy CEO and Full-Time Director, resigned with immediate effect.
His departure comes at a critical time, as the private lender reported discrepancies in its derivatives portfolio.
The accounting lapse led to an adverse impact of approximately ₹1,959.98 crore on the bank's profit and loss account.
In a regulatory filing dated April 28, 2025, IndusInd Bank confirmed Khurana's resignation, citing his letter to the Board acknowledging the developments.
Company Details
The resignation follows IndusInd Bank's announcement that it is taking strong corrective steps.
The Board plans to:
- Fix accountability of the individuals responsible for the lapses.
- Re-align roles and responsibilities within the senior management team.
Khurana accepted oversight responsibility in his resignation letter, given his role in the Treasury Front Office function.
Summary of the Article
The IndusInd Bank share price gained 2% today after Deputy CEO Arun Khurana's resigned amid internal financial discrepancies.
While the bank's share has shown short-term recovery, long-term performance remains under pressure.
The management overhaul and internal accountability measures will shape the bank's future.
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