IndusInd Derivatives Portfolio Discrepancies Impact to be marginally lower than internal review estimates, finds PwC

Shares of IndusInd Bank surged over 7 per cent on Wednesday, following its disclosure the previous day that the impact of discrepancies in its derivatives portfolio, ascertained by external agency PwC, would be marginally lower than its findings in the internal review.

- SUBRATA PANDA

IndusInd Bank shares closed at ₹788.25 on the BSE, up 7.12 per cent from the previous day's close. The private lender's shares have bounced back nearly 24 per cent since reaching a low of ₹637.30 on March 25. Its shares had fallen over 27 per cent the day after it disclosed to the exchanges that an internal review had found discrepancies in its derivatives portfolio. On Tuesday, the bank disclosed that PwC, appointed to validate the findings of its internal review, has identified discrepancies in its derivatives portfolio and estimated a negative impact of ₹1,979 crore as of June 30, 2024.