BOM:532187

IndusInd Bank Denies Receiving Any Whistleblower Complaint Cited in Media Report

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) said it has not received any communication from government or regulatory authorities regarding a whistleblower complaint mentioned in recent media reports, according to a Wednesday filing on Indian bourses.The clarification came after a media report suggested that a whistleblower complaint had been sent to the Prime Minister's Office and multiple regulators, including the Reserve Bank of India, the Serious Fraud Investigation Office, and the National Financial Reporting Authority. The report alleged insider trading, governance lapses, and issues in forensic and audit reviews following a 20-billion-rupee derivatives discrepancy.The bank said it has previously examined similar issues and has taken appropriate actions in line with its internal policies and regulatory requirements. It added that certain matters have also been proactively reported to relevant authorities and it continues to cooperate with regulators.

Market Chatter: IndusInd Bank Faces Fresh Whistleblower Complaint; Shares Down 3%

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) shares plunged nearly 3% in early trade on Wednesday after reports of allegations of insider trading and governance failures emerged through a whistleblower complaint.According to a report by The Economic Times on Wednesday, a fresh whistleblower complaint has been sent to the Prime Minister's Office and multiple regulators, including the Reserve Bank of India.The complaint has sought an investigation into alleged insider trading, governance failures, and shortcomings in forensic and audit reviews at IndusInd Bank following the discovery of a derivatives accounting discrepancy worth 20 billion Indian rupees.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nomura Adjusts IndusInd Bank's Price Target to INR1,000 from INR945, Keeps at Buy

JM Financial Upgrades IndusInd Bank to Add from Reduce; Price Target is INR925

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) has an average rating of hold and mean price target of 857.92 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Jefferies Adjusts IndusInd Bank's Price Target to INR1,100 from INR1,000, Keeps at Buy

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) has an average rating of hold and mean price target of 848.11 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

IndusInd Bank Turns to Profit in Fiscal Q4

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) turned to a net profit of 5.94 billion Indian rupees in the fiscal fourth quarter ended March 31, compared with a net loss of 23.3 billion rupees in the same period last year, according to a Friday filing on the Indian bourses.Earnings per share stood at 7.62 rupees, compared with a loss per share of 29.89 rupees in the prior-year quarter.Interest earned increased year on year to 110.1 billion rupees from 106.3 billion rupees a year earlier.The company also declared a final dividend of 1.50 rupees for the financial year ended March 31.

IndusInd Bank Chief Compliance Officer to Step Down; Successor Named

IndusInd Bank (NSE:INDUSINDBK, BOM:532187) said Chief Compliance Officer Sachin Patange will step down from the role on April 29, on completion of his tenure, according to a Friday filing on Indian bourses.The bank has appointed Sunil Kumar Singh as new chief compliance officer, effective April 30, the filing said.