The revelations triggered swift reactions from global brokerages. One international brokerage downgraded the stock from 'Buy' to 'Hold' and slashed its target price to Rs 780. Analysts noted that adjusting for the inflated Rs 674 crore interest income suggests the banks core Net Interest Margin (NIM) was 17 basis points lower than reported. The broker cut its FY25 profit after tax (PAT) forecast for IndusInd Bank by a significant 22%. It also lowered estimates for FY26 and FY27 by 13% and 17%, respectively, citing concerns over NIM compression and a possible slowdown in growth.