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Anand Rathi is bullish on Indian Bank has recommended buy rating on the stock with a target price of Rs 75 in its research report dated October 26, 2020.
Broker Research
Anand Rathi 's research report on Indian Bank
NIM expansion and higher non-interest income led to a strong, 40%, y/y increase in Indian Bank’s Q2 operating profits. With the standstill on NPA recognition, asset quality and PCR improved. Collection efficiency improved exceptionally in Sep.
Outlook
We maintain our positive view on the bank at a TP of Rs75, valuing it at 0.3x P/ABV on its FY22e book.
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Read MoreFirst Published on Oct 28, 2020 05:03 pm