The bank found itself in the midst of a crisis as governance and accounting lapses led to the exit of its former CEO Sumant Kathpalia and deputy Arun Khurana
Motilal Oswal recommended Neutral rating on IndusInd Bank with a target price of Rs 800 in its research report dated October 19, 2025.
Prabhudas Lilladher recommended hold rating on IndusInd Bank with a target price of Rs 840 in its research report dated October 19, 2025.
Stocks to Watch, 20 October: Stocks like Reliance Industries, HDFC Bank, ICICI Bank, UltraTech Cement, IndusInd Bank, Punjab National Bank, IDBI Bank, RBL Bank, Yes Bank, Federal Bank, Bank Of India, L&T Technology Services, Sobha, Dixon Technologies, Havells India, nad JSW Energy will be in focus on October 20.
The auditor of BFIL had earlier issued a qualified conclusion in its limited review dated October 17, 2025, on the financial results for the September quarter and half year. However, the Bank clarified that these observations were not material to the group’s overall results.
According to the bank’s disclosure, the newly formed Project Management Group will oversee corrective measures, ensure process standardisation, and tighten internal checks to prevent such lapses in the future.
Net Interest Income for the Q2 FY26 at Rs 4,409 crore as compared to Q2FY25 at Rs 5,347 crore. Fee and other income for the Q2FY26 at Rs 1,651 crore as compared to Q2FY25 at Rs 2,185 crore.
IndusInd Bank's Q2 loss was driven by a sharp fall in core income and a significant rise in provisions, even as the lender maintained stable asset quality and strong capital buffers.
Moneycontrol on October 16 has reported that 'a certain entry amounting to Rs 250 crore requires attention'. Sources said that these entries may pertain to 2016, a year after the treasury derivatives desk was started.
The sources cited add that EOW will question Siddharth Banerjee, head of global market and financial institutions group, in the coming days. A few employees who were part of the former DMD's team may also be called for questioning.
Emails accessed by Moneycontrol indicate that IndusInd Bank’s former CFO Arun Khurana was aware of fraudulent accounting practices adopted for foreign derivative contracts. Separately, days ahead of the Grant Thornton audit report, CHRO Zubin Mody had calls with select employees where he was quoted as saying, 'say everything you know'
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Arun Khurana, ex-MD&CEO Sumant Kathpalia and three others were barred by SEBI for insider trading allegation in IndusInd Bank shares. Khurana had challenged the SEBI order, SAT gave him partial relief.
Pankaj Sharma is seen as taking over from Anil Rao, the current head of operations at IndusInd Bank. Anil Rao is set to superannuate in a few weeks and may not to seek an extended tenure.
Stocks to Watch, 06 October: Stocks like HDFC Bank, Bajaj Finance, IndusInd Bank, Aditya Birla Lifestyle Brands, Lupin, Infosys, Ceigall India, Sobha, Kotak Mahindra Bank, Pace Digitek, Yes Bank, Ujjivan Small Finance Bank, and Canara Bank will be in focus on October 06.
Motilal Oswal Mutual Fund bought 31.02 lakh shares of Bharat Forge at Rs 1,217.32 per share for Rs 377.7 crore, however, sold 7.37 lakh shares in DCX Systems at Rs 242.62 apiece for Rs 17.88 crore.
The stock is down 50% in the last year, making valuations inexpensive, says Morgan Stanley
Board member Pradeep Udhas, senior advisor at KPMG, earned Rs 84 lakh in sitting fees in FY25—over three times the Rs 25.20 lakh he received in FY24
Over the year, FIIs have remained significant net sellers with outflows totaling Rs 2.27 lakh crore, while DIIs have been strong net buyers, investing Rs 5.54 lakh crore.
Stocks to Watch, 16 September: Stocks like Transrail Lighting, NCC, Adani Enterprises, Sanghvi Movers, Asahi India Glass, John Cockerill, JSW Infrastructure, Angel One, Bajaj Finserv, Patel Retail, Zydus Lifesciences, and AGI Greenpac will be in focus on September 16.
Serial investor Shah, was upbeat about the prospects of the new products, especially the Sovereign gold card. “Take a good look because you will probably not see it. Most people will not get it.”
In an internal meeting with select business head of the bank, Rajiv Anand is said to have asked business heads to draw up a plan within the next 45 days to tighten compliance, fill the gaps in processes and strengthening the business.
In his letter to PM Modi, cited by the Economic Times, Gobind Jain said he was the only executive to detect the lapses and had fought a "lone battle" to highlight them.
The lender has faced a series of exits at senior level since April this year, including CEO Sumant Kathpalia, after discrepancies in derivatives accounting and MFI books were reported.
Armed with a commerce degree and a Chartered Accountancy qualification, Rajiv Anand has more than three decades of experience in financial services across asset management, retail, and corporate banking