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 87591.24 Crore).
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 9362.76 Crore, up 1.77 % from last quarter Total Income of Rs 9199.71 Crore and up 7.84 % from last year same quarter Total Income of Rs 8682.17 Crore. The bank reported net profit after tax of Rs 1016.05 Crore in latest quarter.
Investment Rationale
The brokerage appreciates management’s conservative stance to make accelerated provisions on Vodafone despite a recent positive move from the government. The provisions can be reversed as the group’s growth visibility improves. Currently, the brokerage has a Buy rating on the stock with a TP of Rs1,375, given a remarkable improvement in its liability profile after a scare earlier, re-accelerating credit growth, expected improvement in return ratios (RoE ~15-17% over FY23-24E) and reasonable valuations (1.7x Sep’23E ABV).
Promoter/FII Holdings
Promoters held 15.2 per cent stake in the company as of June 30, 2021, while FIIs held 47.8 per cent, DIIs 16.3 per cent and public and others 20.7 per cent.
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