ICICI Direct has given Buy recommendation for IndusInd Bank with a target price of Rs. 1150 in its research report issued on Jan 31, 2021

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 27% of overall loans Strong pan-India presence with 4964 branches as on December 2021

Outlook

We retain our BUY rating on the stock We value the bank at ~1.8x FY24E ABV with a revised target price of Rs 1150 per share (earlier Rs 1400).

 

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