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Stock impact report

IndusInd Tumbles Most in Five Years on Derivative Trades Fallout [Yahoo! Finance]

Jefferies Financial Group Inc. (JEF) 
Last jefferies financial group inc. earnings: 10/25 04:42 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Most Read from Bloomberg NJ College to Merge With State School After Financial Stress NYC Congestion Pricing Toll Gains Support Among City Residents Where New York City's Zoning Reform Will Add Housing Buffalo's Billion-Dollar Freeway Fix Is on Ice, But Not Because of Trump Inside the ‘Not Architecture' of High Line Designers Diller Scofidio + Renfro Shares of IndusInd Bank Ltd. recorded their worst day ever after the Indian lender said it found discrepancies in its derivatives portfolio and warned of a one-time hit to earnings. The stock slumped 27% to the lowest since November 2020 in Mumbai, making it the biggest laggard on the benchmark NSE Nifty 50 Index. Analysts at Jefferies Financial Group Inc. and Citigroup Inc. said the mismatch totals about 20 billion rupees ($230 million) of the bank's pre-tax net income, or 2.35% of its net worth. “Although the financial implications are negligible, it raises the broader issue of credibility,” M B Mahesh, executive direct Show less Read more
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