Mumbai: IndusInd Bank Ltd announced on Tuesday that Sumant Kathpalia has resigned from his position as managing director and chief executive officer (CEO), effective at the end of business hours on April 29, 2025. The bank disclosed in a BSE filing that Mr. Kathpalia (DIN:01054434), who served as Managing Director & CEO and was a key managerial personnel, submitted his resignation via a letter dated April 29, 2025.
In his resignation letter, Kathpalia expressed his intention to resign in connection with the ongoing discussions regarding derivatives, acknowledging moral responsibility for various issues that had been highlighted to him. He requested that his resignation be officially recorded at the end of the working day.
This follows the resignation of the bank’s deputy CEO, Arun Khurana, amid recent accounting irregularities in derivatives trading. The bank has encountered several challenges that have affected its short-term outlook, particularly a 2.35 percent overstatement in its derivatives portfolio due to persistent internal accounting issues. On a positive note, IndusInd Bank’s shares increased by 0.82 percent, closing at Rs 837.30. The stock traded above the 5-day, 10-, 20-, 30-, and 50-day simple moving averages (SMAs), but below the 100-day, 150-day, and 200-day SMAs.
The 14-day relative strength index (RSI) was recorded at 61.71, indicating that the stock is neither oversold nor overbought. According to BSE, the stock’s price-to-earnings (P/E) ratio stands at 9.03, with a price-to-book (P/B) value of 1. Earnings per share (EPS) is reported at 92.75, and the return on equity (RoE) is 11.07. Trendlyne data indicates that IndusInd Bank has a one-year beta of 1.1, suggesting a high level of volatility. As of March 2025, promoters owned a 15.83 percent stake in the bank.
