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Romesh Sobti sells IndusInd Bank stake

IndusInd Bank CEO Romesh Sobti cashes in on the market rebound by selling stock worth ₹108 million

This bank posted a profit growth of over 50% in its latest quarter, but a rise in fresh bad loans played spoilsport for IndusInd. Its gross and net NPA jumped to 1.12% and 2.19% from 0.48% and 1.09% last year. But analysts believe that exposure to stressed assets is manageable. “Inclusive of the current reported stress, where the management seems quite confident on a much lower final haircut, the risk-reward seems much better than earlier,” states a Jefferies report.