IndusInd Bank shares resume fall after a single-day halt; experts suggest bearish trend

Share of IndusInd Bank Ltd slipped into the red in Thursday's trade, continuing their downward move post a single-day halt. The stock was last seen trading 0.53 per cent lower at Rs 777.40. At this price, it has corrected 19.79 per cent on a year-to-date (YTD) basis.

The crisis-hit private lender said Moody's has revised its outlook to 'negative' and downgraded the baseline credit assessment (BCA). Prior to this, IndusInd Bank saw several top-level exits due to the recent accounting discrepancies in derivatives trading. It has faced multiple headwinds that clouded its near-term outlook. The alarming concern was a 2.35 per cent overstatement in its derivatives portfolio, stemming from long-standing internal trade accounting discrepancies.

A few market experts stayed 'bearish' on the counter. Ravi Singh, SVP - Retail Research at Religare Broking, suggested that the overall structure of IndusInd Bank looked weak and the stock can slip towards Rs 700. On the higher end, Singh mentioned that resistance will be seen at Rs 795 level.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said the stock has seen a steep correction and is currently indicating a bearish stance. "The support seems to be seen around the 750-700 zone, while intermediate resistance is seen at the Rs 850 zone from a near-term view," he added.

Kunal Kamble, Senior Technical Research Analyst at Bonanza, advised investors that the counter has been facing downward pressure on charts. "It is expected to decline towards Rs 715 level, with a further downside potential towards Rs 630 as long as the stock remains below the key resistance level of Rs 860," Kamble stated.

The counter traded lower than the 5-day, 10-, 20-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs) but higher than the 30-SMA. Its 14-day relative strength index (RSI) came at 45.04. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-earnings (P/E) ratio of 8.37 against a price-to-book (P/B) value of 0.93. Earnings per share (EPS) stood at 92.75 with a return on equity of 11.07. According to Trendlyne data, IndusInd has a one-year beta of 1, indicating average volatility.

Promoters have decreased their holdings from 16.29 per cent to 15.83 per cent in the March 2025 quarter.