IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 77344.96 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 reported net profit after tax of Rs 926.07 Crore in latest quarter.
Investment Rationale
The brokerage believes a resurgent IndusInd with higher retail orientation/risk guards in place should be deliver sustainably higher return ratios, providing a good turnaround story to play on. It retains Buy with a TP of Rs1,375 (vs. 1,175), now based on 2x Jun’23E ABV (1.7x earlier).
Promoter/FII Holdings
Promoters held 15.2 per cent stake in the company as of the fourth quarter ending March 31, 2021, while FIIs held 46.7 per cent, DIIs 16.6 per cent and public & others 21.4 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.
