IndusInd Bank close to UC

IndusInd Bank is so close to hit the 10% UC – from its close of Rs.422.55, it surged to Rs.463.75, which is not too far from its UC of the day at Rs.464.10. Currently it remains firm at Rs.463 levels.

The stock is up after the company announced yesterday that the promoters plan to buy additional shares from the open market.

The Bank, in April had written to the RBI, seeking permission to hike its stake to 26%.

IndusInd International Holdings and IndusInd Holdings, promoters of IndusInd Bank, currently hold 14.68% stake in the bank.