IndusInd Bank QIP trigger

The stock of Hinduja-controlled IndusInd Bank will come under minor pressure following the qualified institutions placement of equity shares at a discount. IndusInd Bank, which recorded a new high of Rs 420 since its listing, has raised Rs 2,000 crore through sale of shares to UBS, Government of Singapore, SBI Mutual Fund and HDFC Life at Rs 384 a share. The stock is currently ruling at Rs 417.