Hold IndusInd Bank: Angel Broking

Phani Sekhar Of Angel Broking is of the view that one can hold IndusInd Bank and one can even accumulate the stock on 5-10 percent correction.
 
Sekhar told CNBC-TV18, “ IndusInd Bank with the recent dilution of Rs 2000 crore resulting in 11 percent dilution, they have positioned themselves beautifully for the next three years to sustain credit growth at around 25 percent asset quality among the new age private sector banks is among the best. Net interest margins after moderating to 3.2 percent will likely inch up and stabilize at around 3.5 percent in a declining interest rate environment. So, everything is going right for them."

He further added, "Valuations are a little expensive from a very near term point of view. So, my advice to investors will be to hold on and may be on days of decline of 5-10 percent whenever he/she sees over the next three to six months if at all, should keep accumulating the stock.”