Macquarie warns that if IndusInd Bank’s stock drops below Rs 600, the Hinduja Group may need to pledge up to 80% of its holdings. Analysts highlight risks for other Hinduja-led entities, as the group faces debt repayment challenges and collateral pressures.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.