IndusInd Bank announced that it has no direct credit exposures to Nirav Modi nor any indirect credit exposures basis the LOUs issued by PNB.

As regards Gitanjali Gems, the bank has a small, two digit exposure, not linked to any LOUs.

The stock had outperformed the market over the past one month till Feb. 19, 2018, falling 0.35% compared with the Sensex's 4.89% decline.  It outperformed the market in past one quarter, gaining 3.45% as against 1.30% rise in the Sensex.

Shares of the bank declined Rs 1.55, or 0.09%, to trade at  Rs 1,630.15.  The total volume of shares traded  was  1,690 at the BSE (9.44 a.m., Tuesday).