Latest news with #post-RBI
News18
3 days ago
- Business
- News18
IndusInd Bank Jumps 4% After RBI Officials' Comments On Lenders Recent Crisis
Last Updated: IndusInd Bank Ltd's shares rose over 4% on June 6 post-RBI officials' comments on the lender's recent troubles, including accounting lapses IndusInd Bank Share Price: IndusInd Bank Ltd's shares jumped over 4% on June 6 after the Reserve Bank of India (RBI) officials addressed concerns about the bank's recent accounting lapses and management turmoil. RBI Governor Sanjay Malhotra, at the post-monetary policy press conference in Mumbai, said, 'IndusInd Bank has taken enough steps to improve accounting practices. The bank is doing well overall." He added, 'IndusInd MD and CEO have resigned, which should be good enough. Law will take its course on the IndusInd fraud. We won't fail in our duty if we have to step in." RBI Deputy Governor J. Swaminathan also sought to calm investor nerves, stating, 'On IndusInd, the issue should settle down very soon. We will keep monitoring the banking system and see no systemic impact arising from the IndusInd Bank issue." At 1 pm on June 6, IndusInd Bank shares were trading 4.2% higher at ₹837.2 apiece. Governor Malhotra further noted, 'Normally, we do not comment on individual banks. Let us not be speculative on IndusInd Bank fraud." IndusInd Bank has been navigating a troubled phase. A forensic audit is currently underway after it disclosed a Rs 2,000-crore hit to its net worth in March due to lapses in derivatives accounting. Subsequent probes have uncovered additional accounting irregularities. The bank is now in the process of appointing a new leadership team, including a new CEO. SEBI's preliminary findings cited emails showing the senior management was aware of the accounting discrepancies as early as December 2023 and acknowledged their 'huge impact" internally.
Mint
3 days ago
- Automotive
- Mint
15,600% rally in five years! Small-cap EV stock jumps in a rally post-RBI MPC meeting outcome
Stock Market Today: Having seen 15,600% rally in five years, the small-cap EV stock gained in the intraday trades on Friday in a rally post-RBI MPC meeting outcome was announced. Check details While the sharp gain in the Indian Stock Markets following a sunrise 50 bps or basis point. also supported the gain for the small-cap EV stock MERCURY EV-TECH LIMITED. A surprising 50 basis point rate Cut decision boosts the Indian stock market, sending the benchmark Indices as S&P BSE Sensex up 800 points and the Nifty-50 index above the 25,000 mark. Besides the strong market sentiments led by RBI's interest rate decisions, the gains for Mercury EV-tech Ltd also were driven by the announcement following Business update. Small-cap EV stock Mercury EV-Tech business on Thursday 5, June, 2025 intimated the BSE or the Bombay stock Exchange about a business update. As per the business u[date announced by Mercury Ev-Tech Limited, the company has inaugurated a new showroom located at Shop No. 5, Near Sagar Complex, Jashonath Circle, Bhavnagar, Gujarat. Its other business its faculties include a chassis Manufacturing. unit. This is a state-of-the-art facilities with advanced machinery for diverse chassis types. MANUFACTURING FACILITY & CAPACITY: It has a 3.2 GW Lithium-Ion Battery Manufacturing Facility (Vadodara), The company has placed additional order for a fully robotic, high-throughput production line from a top-tier equipment provider. Equipment is expected by end of May, pilot production by mid-June 2025. It has Designed as a next-generation battery architecture hub with infrastructure for a wide range of chemistries. Multi-chemistry flexibility to cater to electric mobility and stationary energy storage. Capable of producing LFP, NMC, Sodium-Ion Cells, and Super Capacitor Modules Small-cap EV stock Mercury EV-Tech Share price touched intraday highs of ₹ 59.94 , which translated in to gains of more 1% The Small-cap EV stock Mercury EV-tech share price despite sharp corrections in the recent past, the Mercury EV-tech is still up 1560 % in the last 5 years. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
