Sharekhan has given Buy recommendation for IndusInd Bank with a target price of Rs. 1340 in its research report issued on Nov 29, 2021
Sharekhan’s research report on IndusInd Bank
IndusInd Bank’s promoters may look forward to increase its stake to 26% from currently at 16.54% (as September 2021). The bank continued its Digital 2.0 strategy and Q2 witnessed launch of new initiatives. Management is confident of clocking a 16-18% loan growth as the COVID-19 scenario normalises.
Outlook
Bank trades at 1.4x/1.3x/1.1x its FY2022E/FY2023E/FY2024 book value, which is reasonable. We maintain a Buy on the stock with an unchanged PT ofRs. 1,340.