Getty ImagesICICI Direct has buy call on with a target price of Rs 335. The current market price of Indian Bank is Rs 268.45. Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 33614.46 Crore).
Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 12714.20 Crore, up 6.86 % from last quarter Total Income of Rs 11897.53 Crore and up 10.43 % from last year same quarter Total Income of Rs 11513.70 Crore. The bank has reported net profit after tax of Rs 1287.39 Crore in latest quarter.
Investment Rationale
Continued healthy credit momentum coupled with a gradual improvement in asset quality keeping credit cost lower to aid RoA. Further, a healthy liabilities franchise and relatively superior efficiency and capital adequacy are expected to aid improvement in RoA.
Promoter/FII Holdings
Promoters held 79.86 per cent stake in the company as of 30-Sep-2022, while FIIs owned 2.06 per cent, DIIs 12.09 per cent.
Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 12714.20 Crore, up 6.86 % from last quarter Total Income of Rs 11897.53 Crore and up 10.43 % from last year same quarter Total Income of Rs 11513.70 Crore. The bank has reported net profit after tax of Rs 1287.39 Crore in latest quarter.
Investment Rationale
Continued healthy credit momentum coupled with a gradual improvement in asset quality keeping credit cost lower to aid RoA. Further, a healthy liabilities franchise and relatively superior efficiency and capital adequacy are expected to aid improvement in RoA.
Promoter/FII Holdings
Promoters held 79.86 per cent stake in the company as of 30-Sep-2022, while FIIs owned 2.06 per cent, DIIs 12.09 per cent.
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