Shares of IndusInd Bank tumbled 26.01 percent to an intraday low of Rs 666.25 on the National Stock Exchange (NSE), dragging down the Bank Nifty index. The company has now lost nearly Rs 78,762 crore in market capitalisation since its January 2024 peak. The bank reported a 39 percent year-on-year drop in net profit to Rs 1,402 crore, compared to Rs 2,301 crore in the same quarter last year. Investors were concerned after the RBI granted a shorter-than-expected extension to the tenure of CEO Sumant Kathpalia. In reaction, the stock fell nearly 6 per cent in Monday’s trading session to its lowest level since July 2022. The lender put microfinance loans worth £1,573 crore up for sale after persistent asset quality challenges in itsMicrofinance portfolio in December 2024. The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.