The share price of IndusInd Bank gained over 2 percent intraday on April 16 after global broking and research firm Goldman Sachs bought Rs 176-crore worth of shares in the private lender through an open market transaction.
Goldman Sachs (Singapore) PTE-ODI bought 1.4 million shares at an average price of Rs 430.3 a piece, bulk deal data on the National Stock Exchange shows.
On April 7, Singapore-based investment banking firm UBS Principal Capital Asia acquired a 0.85 percent stake in the bank. As per April 7 bulk deal data available on NSE, UBS acquired 53,83,066 shares at Rs 367 per share. The deal value stood at Rs 197.55 crore and could be one of the reasons for the rally in the stock.
IndusInd Bank's deposits were down by around 11 percent. Of the total fall in deposits since Q3FY20, 70 percent was through state government deposits and 30 percent was via corporate deposits, the bank told the exchanges on March 30.
"Deposits fell 10-11 percent and almost two-third of reduction is on account of government-related accounts – this is largely related to general private sector bank stance. This will also result in lower CASA ratio, but reduce our dependency on this category for deposits in future," it said.
The stock, which has jumped 13 percent in the last five days, was quoting at Rs 435, up Rs 10.90, or 2.57 percent. It touched an intraday high of Rs 441.80 and an intraday low of Rs 413.25.
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