Buy IndusInd Bank; target of Rs 1550: HDFC Securities
HDFC Securities is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 1550 in its research report dated April 20, 2017.
HDFC Securities' report on IndusInd Bank
IndusInd Bank’s (IIB 4Q results were a mixed bag. Core performance was healthy, led by continued business momentum (+28% loans growth), SA growth of 56%, strong fee growth (29%), superior NIM (4%) and an opex growth of 27% (despite adding 200 branches in FY17).
We maintain our positive stance on IIB, given continued business momentum, an improving CASA proportion, superior NIM, upward fee trajectory and stable asset quality performance. Maintain a BUY with a revised TP of Rs 1,550 (3.5x Mar-19 ABV of Rs 443).
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.