Stock market ends in green in a volatile session
At close, the Sensex was up 301.93 points or 0.36% at 83,878.17, and the Nifty was up 106.95 points or 0.42% at 25,790.25.
At close, the Sensex was up 301.93 points or 0.36% at 83,878.17, and the Nifty was up 106.95 points or 0.42% at 25,790.25.
The Hinduja family-promoted IndusInd Bank's Board of Directors on Wednesday approved raising up to Rs 30,000 crore through a combination of debt and equity and allowed the promoters to nominate two board directors, as it seeks to restore confidence in its operations after the recent Rs 2,000 crore accounting lapse.
IndusInd Bank's share fell over 5 per cent on Tuesday after the bank informed that GST authorities in Thane, Maharashtra, had imposed a penalty of more than Rs 30.15 crore due to several compliance issues.
The board members of IndusInd Bank have decided to appoint an independent professional firm to conduct a comprehensive investigation to identify the root cause of the discrepancies in the bank’s derivative portfolio.
We are delighted to collaborate with Vistara, to launch the 'Club Vistara IndusInd Bank Explorer' credit card that aims to revitalise the way India travels.
The other income came down 8 per cent to Rs 1,646 crore, which resulted in an only 4 per cent increase in the overall income to Rs 5,052 crore.
Kotak Mahindra Bank and the RBI had announced a truce earlier this year under which the central bank allowed promoter Uday Kotak and entities linked to him to hold a 26 per cent stake after the regulator was dragged to court.
The lender said that its business was highly impacted in the first quarter due to the lockdown since March 24, 2020 to mitigate the spread of the Covid-19 pandemic.
The S&P BSE Sensex ended 811.68 points or 2.09 per cent lower at 38,034.14 levels.
The share allotment is part of bank's resolution passed by shareholders in the extraordinary general meeting on August 25, 2020.
