NSE Symbol: INDUSINDBK | BSE Code: 532187
Established in 1994, IndusInd was declared as one of the first new generation private banks in India. It began operations with an initial capital that amounts to Rs.1 billion. Out of this, Rs.400 million was donated by NRIs, and Residents of India gave Rs.600 million. Now one of the most reputed banks in the country, IndusInd has an impression of quality banking services combined with extraordinary customer service. Apart from merely providing banking services to its customers, the bank continually makes efforts to integrate the latest technology available in the market into its structure.
As of mid-2016, the bank had over 1,000 branches and 1,800 ATMs. One of the significant helping points of the bank is its widespread network which attracts plenty of customers on a yearly basis. The IndusInd system is spread across over 600 locations worldwide.
The primary intention of the bank was to cater to the banking needs for NRIs with its origins dating back to 1994. However, the bank has spread its reach to various types of customers. With its extensive network, quality products, and knowledgeable customer executives, IndusInd is one of the most popular banks in India. The bank also has a lot of accolades associated with it which validates the popularity of the bank and why the bank is one of the go-to banks to many banking customers in the country.
IndusInd stocks are listed on Nifty 200, Nifty 500, Nifty 100, S&P BSE 100, S&P BSE 500, S&P BSE 200 amongst several other indices.
Mr. R. Seshasayee â€“ Chairman
Mr. Seshasayee is a CA and also a chairman of IndusInd. Before this, he was the vice chairman of Ashok Leyland, one of the ICICI Banks' board members, and the president of CII. He has been the chairman of IndusInd since July 2007.
Mrs. Kanchan Chitale â€“ Senior Finance Manager
Mrs. Kanchan Chitale is the senior finance manager of IndusInd. CA by profession, she has been a part of the success of several other companies before working for IndusInd. Her primary areas of work include audit management of all the sectors of the organization, making her one of the most valuable employees of the bank.
Mr. Romesh Sobti â€“ Managing Director
He has joined IndusInd as a CEO and Managing director. He has been a part of the banking industry for over 33 years. He has worked with giants like ANZ and SBI, which brings a lot of experience to the table when it comes to providing value to IndusInd. Apart from holding a Bachelor's degree in electrical engineering he also attained a degree in Corporate Laws Practice and Secretarial Practice.
The market capitalization of IndusInd is over Rs.1,02,800 crore.
The stock price of IndusInd at the beginning of January 2016 stood at around Rs.960, which was also the peak in the stock price for that month. By the end of January 2016, the stock price rose to roughly Rs.900. On the 1st of April, the stock prices remained stagnant and stood at around Rs.965. By the month end, the stock price held at approximately Rs.1030, which was also the highest the stock price of the bank rose at in April 2016. IndusInd saw a rise in stock prices during August and held roughly at Rs.1170. The costs of the stock stood stagnant throughout the month, and at the end of August, the prices rose at approximately Rs.1160. IndusInd saw a rise in stock prices during August and held roughly at Rs.1170. The costs of the stock stood stagnant throughout the month, and at the end of August, the prices rose at approximately Rs.1160.
At the end of 2016, the stock prices held at roughly Rs.1100. During the beginning of December 2016, the stock price was around Rs.1080. January of 2017 was a good month for the bank as the stock prices hit Rs.1250. In April 2017, the bank enjoyed a rise in the stock value when it stood at roughly Rs.1400. The month ended with the stock prices holding at around Rs.1450 which was also one of the highest points of the stock for that month. IndusInd continued to enjoy a rise in stock prices, and in August the stock price of the bank hit approximately Rs.1600. The bank then had its ups and downs which resulted in the stock price to stagnate at Rs.1600 at the end of the year 2017
The stock prices remained at roughly Rs.1600 at the beginning of 2018. In February 2018, the stock prices rose slightly to approximately Rs.1700.
A lot of research and knowledge is required in stock market investments, and generally, they don't offer any tax benefits. Hence at mymoneykarma, we merely motivate our readers to invest in mutual funds. Investing in mutual funds doesn't require a lot of knowledge, and equity-linked mutual fund schemes also provide tax benefits. In addition to it, since mutual funds contain stocks from multiple companies, they help in building a diversified portfolio.
Note: The contents of this post/blog do not constitute any professional advice on a specific financial matter.
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