AgenciesHDFC Securities has reduce call on IndusInd Bank with a target price of Rs 1025. The current market price of IndusInd Bank is Rs 1118.9.
IndusInd Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 86977.85 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 31-03-2023, the company has reported a Consolidated Total Income of Rs 12174.31 Crore, up 5.55 % from last quarter Total Income of Rs 11533.89 Crore and up 24.67 % from last year same quarter Total Income of Rs 9764.91 Crore. The bank has reported net profit after tax of Rs 2043.44 Crore in latest quarter.
Investment Rationale
Over its next three year planning cycle, the bank is focusing on achieving deposit granularity through its branch expansion strategy. However, the brokerage believes that the bank faces structural challenges in a deposit-constrained environment, translating into sub-optimal operating leverage from continued investments on both sides of the balance sheet.
Promoter/FII Holdings
Promoters held 16.5 per cent stake in the company as of 31-Mar-2023, while FIIs owned 42.16 per cent, DIIs 26.38 per cent.
IndusInd Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 86977.85 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 31-03-2023, the company has reported a Consolidated Total Income of Rs 12174.31 Crore, up 5.55 % from last quarter Total Income of Rs 11533.89 Crore and up 24.67 % from last year same quarter Total Income of Rs 9764.91 Crore. The bank has reported net profit after tax of Rs 2043.44 Crore in latest quarter.
Investment Rationale
Over its next three year planning cycle, the bank is focusing on achieving deposit granularity through its branch expansion strategy. However, the brokerage believes that the bank faces structural challenges in a deposit-constrained environment, translating into sub-optimal operating leverage from continued investments on both sides of the balance sheet.
The brokerage trims its FY24E/FY25E estimates to factor in elevated credit costs, and higher opex, offset by NIM reflation (higher mix of the fixed-rate portfolio).
Promoter/FII Holdings
Promoters held 16.5 per cent stake in the company as of 31-Mar-2023, while FIIs owned 42.16 per cent, DIIs 26.38 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Tuesday, 25 Apr, 2023Experience Your Economic Times Newspaper, The Digital Way!
- Front Page
- Pure Politics
- Companies
- Brands & Companies
- More
- Startups Call for Exempting More from Angel Tax
The startup industry is lobbying the finance ministry to scrap, or at least increase, the ₹25-crore paid-up capital threshold for exemption from the so-called angel tax.
Vedanta Resources Clears Apr Dues, Cuts Debt by $1bLondon-based Vedanta Resources (VRL), the parent company of India-listed Vedanta Ltd (VDL), said on Monday that it had paid off loans and bonds due in April and reduced gross debt by $1 billion.
Pvt Sector Capex in Focus at ET AwardsPrime Minister Narendra Modi wants Indian industry to unleash its animal spirits, building on the investment thrust led by the Centre that’s seeing a vast infrastructure buildout across the country.
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by 
Get Unlimited Access to The Economic Times 
