ICICI Direct has given Buy recommendation for IndusInd Bank recommended buy rating on the stock with a target price of Rs 1350 in its research rep with a target price of Rs. 1350 in its research report issued on Oct 20, 2022
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. We value the bank at ~1.8x FY24E ABV and revise our target price from Rs 1330 to Rs 1350 per share.