HDFC Mutual Fund has raised its stake in IndusInd Bank to 5.02% after acquiring 15,92,410 shares through an open market transaction on March 11, 2025. Before this purchase, HDFC Mutual Fund held 3,75,29,368 shares, equivalent to a 4.82% stake.

IndusInd Bank has been facing challenges due to accounting discrepancies related to internal derivatives. On March 11, the bank’s stock dropped by 27.17%, closing at ₹672.10 on March 13. The bank estimated a loss of ₹1,520 crore net of taxes, impacting 2.35% of its net worth. Despite this, it expects to report a small profit in the fourth quarter.

The stock rebounded by 4.38% after promoter Ashok Hinduja expressed confidence in the bank’s MD and CEO, Sumant Kathpalia, to manage the crisis. However, in March, IndusInd Bank’s share price has declined by 32% overall.

The increased investment by HDFC Mutual Fund signals confidence in the bank despite recent financial setbacks.

Source: Mint