iStockEmkay Global Financial Services has buy call on with a target price of Rs 1650. The current market price of IndusInd Bank is Rs 1198.65. Time period given by analyst is a year when IndusInd Bank price can reach defined target.
IndusInd Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 94139.26 Crore).
IndusInd 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 31-12-2022, the company has reported a Consolidated Total Income of Rs 11533.89 Crore, up 7.60 % from last quarter Total Income of Rs 10719.20 Crore and up 19.97 % from last year same quarter Total Income of Rs 9614.34 Crore. The bank has reported net profit after tax of Rs 1963.64 Crore in latest quarter.
Investment Rationale
The brokerage retain its BUY rating on the stock with a revised TP of Rs1,650 (earlier Rs1,500),valuing the bank at 2x Dec-24E ABV (vs. earlier 1.8x), given improving growth/RoA visibility.
Promoter/FII Holdings
Promoters held 16.51 per cent stake in the company as of 31-Dec-2022, while FIIs owned 45.83 per cent, DIIs 24.46 per cent.
IndusInd Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 94139.26 Crore).
IndusInd 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 31-12-2022, the company has reported a Consolidated Total Income of Rs 11533.89 Crore, up 7.60 % from last quarter Total Income of Rs 10719.20 Crore and up 19.97 % from last year same quarter Total Income of Rs 9614.34 Crore. The bank has reported net profit after tax of Rs 1963.64 Crore in latest quarter.
Investment Rationale
The brokerage retain its BUY rating on the stock with a revised TP of Rs1,650 (earlier Rs1,500),valuing the bank at 2x Dec-24E ABV (vs. earlier 1.8x), given improving growth/RoA visibility.
Promoter/FII Holdings
Promoters held 16.51 per cent stake in the company as of 31-Dec-2022, while FIIs owned 45.83 per cent, DIIs 24.46 per cent.
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