IndusInd Bank shares declined by 37% and crossed its 6 years lowest value:
To begin with, today, the share value of the IndusInd Bank declined by 36.7% in the intraday trade. The companies shares also reached its 6 years lowest value of Rs 382.55 on 18th March.
Due to the weak market, the bank shares declined and the supreme court does not give relief to telecom companies from AGR dues. Supreme Court announced, it will not any further objections to its orders given previously adjusted AGR gross revenue.
Also, all dues will need to pay as per the orders. On 17th March, the apex court has to hear the DoT plea regarding the regulated AGR revenue. Moreover, the IndusInd bank having 2% exposure to Vodafone Idea and it has found difficult to pay the total amount in the short period.
IndusInd Bank Ltd shares trading with a loss of 144.95 points reached 459.20 INR with 23.99% down. Its previous close at 604.15 INR on the National Stock Exchange. IndusInd Bank Ltd shares outstanding with 693,531,300.
Vodafone Idea Ltd shares trading with a loss of 1.65 points reached 3.20 INR with 34.02% down. Its previous close at 4.85 INR on the National Stock Exchange. Vodafone Idea Ltd shares outstanding with 28,735,400,000.
On the other hand, the stock market traded with a bearish trend today on March 17th. The Sensex trading with a loss of 1,709.58 points reached 28,869.51 level with 5.59% down. Whereas Nifty also traded with a loss of 498.25 points reached 8,468.80 level with 5.56% down.