IndusInd Bank shares shed over 3% after Goldman Sachs downgrades lender to neutral, cuts target price

IndusInd Bank shares fell 3.2% after Goldman Sachs downgraded the stock to ‘neutral from ‘buy, reducing its target price by 17% to Rs 1,090. The downgrade reflects concerns over slowing revenue growth, rising delinquencies in MSME and CV loans, and a decline in asset quality. The banks provisions nearly doubled, further impacting its profitability outlook.