IndusInd Bank’s shares have seen a massive drop today, plummeting by 27% in a single day. The stock closed at ₹657, losing ₹243 in value. The primary reason behind this sharp decline is reported to be irregularities in the bank’s derivatives accounts. According to the bank’s filing with the exchange, internal reviews have uncovered discrepancies in its derivatives portfolio. As a result, the bank’s earnings may take a hit, and its net worth could decrease by ₹2,000 crore.

The stock has witnessed a significant fall over the past year, down by 56%. Investors are closely monitoring the situation as the bank addresses the issue. The unexpected plunge in the stock price has raised concerns about the bank’s financial stability, and analysts are awaiting further updates from the management regarding corrective actions.