Investors bleed in IndusInd crash

A DAY AFTER IndusInd Bank disclosed a ₹1,580-crore discrepancy in its derivatives portfolio, the lender's shares plunged 27%, marking its biggest single-day fall on Tuesday. This crash led to a market capitalisation erosion of over ₹19,000 crore and a ₹5,500-crore notional loss for mutual funds.

- SACHIN KUMAR

With an m-cap of ₹51,102 crore at Tuesday's close, IndusInd Bank has now slipped to the sixth-largest lender position with its valuation falling below Yes Bank's ₹51,357 crore. Ashok Hinduja, the promoter of IndusInd Bank, tried to calm the nerves of investors, saying that the financials remain healthy. "If additional capital is needed, promoters and long-term global investors, who have been with the company for 30 years are committed to supporting it," he told TV channels.