IndusInd Bank shares briefly under pressure after year-old order against Hinduja Bank resurfaces

Shares of IndusInd Bank came under pressure briefly after a report based on a year-old Cayman Islands order on Hinduja Bank resurfaced. It may be noted that Hinduja Bank operates in India through its subsidiary IndusInd Bank.

Shares of IndusInd Bank shares briefly came under pressure during Thursday’s trading session after a year-old report of Cayman Islands cancelling the permit of Hinduja Bank resurfaced. It may be noted that the multi-industry conglomerate Hinduja Group is the promoter of IndusInd Bank, the Geneva-headquartered Hinduja Bank and Hinduja Leyland Finance. In India, Hinduja Bank operates through its subsidiary IndusInd Bank. At 12:30 pm, IndusInd Bank was trading 1.85 per cent lower at 1,009 per share on the Bombay Stock Exchange. Earlier in today’s trading session, the stock fell as much as six per cent to just over Rs 964 per share.