Buy Indian Bank; target of Rs 180: ICICI Direct
ICICI Direct is bullish on Indian Bank has recommended buy rating on the stock with a target price of Rs 180 in its research report dated July 22, 2021.
July 28, 2021 / 09:43 AM IST
ICICI Direct's research report on Indian Bank
Indian Bank is seventh largest and among the better performing PSU banks in India with total business of over Rs 9.2 lakh crore. Pan-India presence with strong branch network of 5809 domestic branches Diversified loan mix with RAM (Retail/Agri/MSME) forming 58% to book
Factoring a sweet spot for Indian bank post-merger - bringing strong deposits and lending franchises together, Maintain BUY rating on the stock We value Indian Bank at ~0.7x FY23E ABV and maintain our target price at Rs 180 per share
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