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Investec, CLSA cut IndusInd outlook
Mint New Delhi
|May 17, 2025
Foreign brokerages including Investec and CLSA have downgraded their recommendations on the shares of IndusInd Bank Ltd after the lender flagged two more accounting issues in its internal audits.
IndusInd Bank on Thursday said its internal audit department had found ₹674 crore to be "incorrectly recorded as interest" in its microfinance book over three quarters of fiscal 2024-25. This amount was, however, fully reversed as on 10 January, the bank informed the stock exchanges. The audit team also revealed ₹595 crore worth of unsubstantiated balances in 'other assets
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