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IndusInd Bank – Prudence to support further re-rating

With an undemanding valuation, we see more re-rating ahead for IndusInd Bank

January 31, 2021 / 12:54 PM IST
IndusInd Bank – Prudence to support further re-rating

IndusInd Bank | In FY21 so far, the stock has jumped 168 percent to Rs 940.15 as on January 19, 2021 from Rs 351.15 as on March 31, 2020.

Highlights - Full recognition of pro forma slippage post moratorium - Provision coverage improves, low restructuring - Advances muted, ready to step up armed with adequate capital - Deposit franchise building up well - Optimistic about future, rolls out planning cycle 5 - Valuation comfortable, further re-rating on the cards Our positive recommendation on IndusInd Bank (CMP: Rs 846, Market Cap: Rs 64,075 crore) has worked well for investors with the stock on a steady run — rallying by over 44 per cent against a 28...

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