Buy IndusInd Bank, says Anu Jain

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS IndusInd Bank has target of Rs 170: Gujral Indusind Bank can touch Rs 180: Gujral IndusInd Bank can test Rs 240-250: Gujral ALSO READ See previous views by Anu Jain See what other Experts & Brokerages are saying about IndusInd Bank See messages about IndusInd Bank IndusInd Bank BSE | NSE 09/02/12 Are Mutual Funds betting on IndusInd Bank?

Buy IndusInd Bank , says Anu Jain , IIFL Private Wealth Management, India Infoline.

Jain told CNBC-TV18, "Banking as such looking to be - post metals - the most effective counter which will probably pull up the Nifty rather it is PSUs which is Punjab National Bank (PNB), Bank of Baroda (BoB), even a Union or whether it is private banks which are gathering steam and going on to their 52-weeks high, I think they are all looking good and that is a same case with IndusInd Bank."

She further added, "IndusInd Bank makes a fair buy at this price and I think if one wants to keep a stoploss above Rs 175, I think one can still go long onto it. I think target would be closer to Rs 184-185."

IndusInd Bank has touched a 52 week high of Rs 185.25. At 13:14 hrs the share was quoting at Rs 181.55, up Rs 3.50, or 1.97%. Market capitalisation stands at Rs 7,445.18 crore.

The company's trailing 12-month (TTM) EPS was at Rs 7.39 per share. The stock's price-to-earnings (P/E) ratio was 24.57. The latest book value of the company is Rs 36.15 per share. At current value, the price-to-book value of the company was 5.02. The dividend yield of the company was 0.66%.