ICICI Direct has a buy call on IndusInd Bank with a target price of Rs 1,270. The current market price of IndusInd Bank is Rs 1,104.7. ICICI Direct recommends to keep a stoploss at Rs 990.
IndusInd Bank Ltd, incorporated in the year 1994, is a banking company with a market cap of Rs 83,690.39 crore.
IndusInd Bank's key products/revenue segments include interest & discount on advances & bills, income from investment, interest and interest on balances with RBI and other inter-bank funds for the year ending 31-Mar-2020.
Investment rationale
ICICI Direct thinks the stock is in a strong up trend forming higher peak and trough on the monthly chart and has generated a bullish Flag breakout. This signals a resumption of the primary up trend and offers a fresh entry opportunity.
Financials
For the quarter ended 31-12-2020, the company has reported a consolidated total income of Rs 8,887.28 crore, up 1.78 % from last quarter's total income of Rs 8,731.52 crore and down 2.06 % from last year same quarter's total income of Rs 9,074.55 crore. The bank has reported net profit after tax of Rs 830.41 crore in latest quarter.
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.
IndusInd Bank Ltd, incorporated in the year 1994, is a banking company with a market cap of Rs 83,690.39 crore.
IndusInd Bank's key products/revenue segments include interest & discount on advances & bills, income from investment, interest and interest on balances with RBI and other inter-bank funds for the year ending 31-Mar-2020.
Investment rationale
ICICI Direct thinks the stock is in a strong up trend forming higher peak and trough on the monthly chart and has generated a bullish Flag breakout. This signals a resumption of the primary up trend and offers a fresh entry opportunity.
Financials
For the quarter ended 31-12-2020, the company has reported a consolidated total income of Rs 8,887.28 crore, up 1.78 % from last quarter's total income of Rs 8,731.52 crore and down 2.06 % from last year same quarter's total income of Rs 9,074.55 crore. The bank has reported net profit after tax of Rs 830.41 crore in latest quarter.
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.
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