Know why ​IndusInd Bank's stocks fell

IndusInd Bank fell from intra-day highs ahead of its quarterly earnings as traders became cautious on the banking sector on the first day of the trading week.

IndusInd Bank hit a high of 907 rupees in early deals but traded at 895 rupees, up 0.1 percent after one hour of trade. Futures markets showed a build up of short positions on the private sector lender.

IndusInd Bank will be the first lender to kick start April-June quarter earnings for the sector that has seen heavy selling on the PSU banking space over the last three months owing to pressure on the lending book. The entire sector has seen its non performing assets go up as borrowers face problems in repayments.

The bank is expected to post a first quarter net profit of 514 crore rupees, up 22 percent on year. Its Net Interest Income is likely may rise 23 percent to 975 crores while its Gross Non Performing Assets are likely at 588 crore rupees, about 0.8 percent of its lending book.

(Image credit: Indiatimes)