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

Brokerage firm Goldman Sachs recommended a selective approach on the lender, downgrading the stock from a ‘buy’ rating to ‘neutral’ and reducing the target price by 17% to Rs 1,090 per share.

Goldman Sachs cited several factors for the downgrade, expressing concerns about IndusInd Bank's future performance.