With the spreading news about the bank’s financial condition, IndusInd Bank has asked its stakeholders to not believe “unsubstantiated information and mischievous rumours” about the bank’s financial health.
“Various market rumours and speculation incorrectly reflect on the bank’s financial health and are totally misplaced, motivated and not based on facts,” the bank said. Shares of IndusInd Bank plunged 36.7% to hit a six-year low of ₹382.55 on Tuesday.
“In the wake of the significantly higher level of market rumours and speculation around IndusInd Bank stock, we would like to reiterate that the Bank is financially strong, well-capitalised, profitable, and a growing entity with strong governance,” it said in a late night statement on Tuesday.
