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Buy IndusInd Bank: target of Rs 1340: Sharekhan

Sharekhan is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 1340 in its research report dated November 29, 2021.

November 30, 2021 / 04:47 PM IST
 
 
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Sharekhan's research report on IndusInd Bank


IndusInd Bank’s promoters may look forward to increase its stake to 26% from currently at 16.54% (as September 2021). The bank continued its Digital 2.0 strategy and Q2 witnessed launch of new initiatives. Management is confident of clocking a 16-18% loan growth as the COVID-19 scenario normalises.



Outlook


Bank trades at 1.4x/1.3x/1.1x its FY2022E/FY2023E/FY2024 book value, which is reasonable. We maintain a Buy on the stock with an unchanged PT ofRs. 1,340.


For all recommendations report, click here

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first published: Nov 30, 2021 04:47 pm
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