Buy IndusInd Bank; target of Rs 1300: Anand Rathi

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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Anand Rathi's research report on IndusInd Bank

Immediately after the first Covid wave, Indusind Bank was severely hit on both asset and liability sides. Its turnaround in the last few quarters has been stellar given that one-third of its assets (VF+MFI books) were impacted and the strong run on deposits on its liability side. Stress on its VF & MFI books was much lower than the industry and strong traction was seen in deposits. We expect credit growth and profitability to be strong on account revived demand in MFI and vehicle finance; bright corporate outlook in on the government’s infra push; sturdy balance sheet (72% coverage, Rs30bn provision buffer, 1.2% of loans) and strong liquidity and capitalisation.

Outlook

We retain our positive view with a revised TP of Rs1,300 (earlier 1,200), valuing it at 1.7x P/ABV on its FY24e book.

More Info

At 09:57 hrs IndusInd Bank was quoting at Rs 1,106.85, down Rs 0.60, or 0.05 percent.

It has touched an intraday high of Rs 1,118.00 and an intraday low of Rs 1,106.40.

It was trading with volumes of 10,522 shares, compared to its thirty day average of 164,817 shares, a decrease of -93.62 percent.

In the previous trading session, the share closed up 0.59 percent or Rs 6.50 at Rs 1,107.45.

The share touched its 52-week high Rs 1,241.85 and 52-week low Rs 763.75 on 28 October, 2021 and 23 June, 2022, respectively.

Currently, it is trading 10.87 percent below its 52-week high and 44.92 percent above its 52-week low.

Market capitalisation stands at Rs 85,800.36 crore.

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IndusInd Bank - 060922 - ind