Oct 17, 2016 05:30 PM IST | Source:

Hold IndusInd Bank; target of Rs 1292: Arihant Capital

Arihant Capital recommended hold rating on IndusInd Bank with a target price of Rs 1292 in its research report dated October 14, 2016.

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Arihant Capital's research report on IndusInd Bank

Indusind Bank Ltd. (IIB) posted healthy growth both on the top-line and bottom-line front. Net profit grew by 26% YoY and stood at Rs 704 crs. Loan book grew at 26% YoY. The ratio of corporate to consumer loans after regrouping stood at 52:48.

Indusind Bank has continued to show sustained progress across all vectors. Microfinance and non-vehicle finance loan books should be the new revenue growth drivers for the bank in the coming quarters. We have HOLD rating with a price target of Rs 1,292 based on 3.4x FY 18E ABV.

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