ICICI Direct's research report on IndusInd Bank
IndusInd Bank is a Hinduja group promoted newer age private sector bank and is the fifth largest private bank in India. Vehicle finance forms around 26% of overall loans • Strong pan-India presence with 6103 touch points as on September 2022.
Outlook
We retain our BUY rating on the stock. Rolling over our valuation, we now value the bank at ~1.65x FY25E ABV and revise our target price from Rs 1350 to Rs 1450 per share.
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