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IndusInd Bank share price rises 2%; here's what brokerages say

Recently, research house Nomura maintained a buy and raised the target to Rs 1,750 from Rs 1,575 per share.

December 24, 2019 / 03:55 PM IST
 
 
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Shares of IndusInd Bank traded in the positive territory, climbing 1.69 percent to Rs 1,521.35 on BSE on December 24, extending the gains into the second consecutive session.

The stock has been investors favourite and it has been termed as the most consistent wealth creator in the brokerage firm Motilal Oswal's Wealth Creation report on December 18 this year.

"Private sector lender IndusInd Bank has emerged the Most Consistent Wealth Creator by virtue of appearing among top 100 Wealth Creators in each of the last 10 studies; and recording the highest price CAGR of 49 percent over the 10-year period 2009 to 2019, ahead of Pidilite Industries' 40 percent," the brokerage said.

Recently, research house Nomura maintained a buy and raised the target to Rs 1,750 from Rs 1,575 per share.

Nomura said the asset side strength should offset its weakness of liabilities and expect ROEs at 18-19 percent over FY21-22.

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The current valuation at 2.1x Dec-21 book seems reasonable to us, it said.

On the other hand, brokerage house Credit Suisse has maintained outperform with a target at Rs 1,800 per share.

It expects ROEs to improve to 20 percent in FY21.

The company is confident about the healthy medium-term growth outlook and aims to double the non-vehicle retail book over three years, Credit Suisse said.
Moneycontrol News
first published: Dec 24, 2019 02:15 pm

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