IndusInd Bank share price: Buy IndusInd Bank, target price Rs 1200: Motilal Oswal

Motilal Oswal has buy call on with a target price of Rs 1200. The current market price of IndusInd Bank Ltd. is Rs 1054.

Time period given by analyst is one year when IndusInd Bank Ltd. price can reach defined target. IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 81594.64 Crore).

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 9199.71 Crore, up 3.52 % from last quarter Total Income of Rs 8887.28 Crore and up .45 % from last year same quarter Total Income of Rs 9158.80 Crore. The bank has reported net profit after tax of Rs 926.07 Crore in latest quarter.

Investment Rationale

  • Loan growth moderates QoQ; deposit growth remains strong
  • Asset quality to remain under watch, led by higher strain on MFI business; restructuring book to be key
  • Margins to remain stable at ~4.2%
  • Credit cost to stay elevated as the focus remains on maintaining higher PCR

Promoter/FII Holdings
Promoters held 13.4 per cent stake in the company as of Dec 30, 2020, while FIIs held 58.7 per cent, DIIs 14.8 per cent and public and others 13 per cent.

(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.

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