IndusInd Bank falls 3% after Moody’s downgrades bank’s outlook to negative

Shares of IndusInd Bank slipped three per cent to Rs one,252 on the BSE in Wednesday’s early morning trade as rating agency Moody’s downgraded the personal lender’s outlook to damaging from secure on account of the possibility of more asset good quality deterioration. The stock was 5 per cent away from its 52-week reduced of Rs one,192, touched on Oct 11, 2019.

“Over the previous number of quarters, the lender has seen deterioration in its asset good quality, significantly in the corporate phase. Restricted refinancing problems for debtors ended up a essential induce for the crystallization of nonperforming loans (NPLs),” Moody’s Buyers Provider explained.

Refinancing problems stay tight, primarily for weaker debtors. In unique, the lender has a fairly higher exposure to actual estate when compared to other banks (at all over 8 per cent of its mortgage book on December 31, 2019. While there have been no NPLs in

Read More