Moneycontrol Be a Pro
Get App
Last Updated : Jul 15, 2019 04:31 PM IST | Source:

Accumulate IndusInd Bank; target of Rs 1800: Dolat Capital

Dolat Capital recommended Accumulate rating on IndusInd Bank with a target price of Rs 1800 in its research report dated July 12, 2019.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Dolat Capital's research report on IndusInd Bank

IIB (merged with Bharat Financial) reported a profit of ` 14bn (growing 38% YoY – adjusted growth of 17% YoY). The key positive was the higher NIM of the MFI book. Advance growth remained at 28% YoY, with a material contribution from retail. The advance share between wholesale and retail is now equal. The merger ensures that its regulatory allocation to PSL and sub segments and branch distribution are met. We, therefore, believe this is likely to increase the flexibility for the bank to capture more profitable growth opportunities – although, we do not expect reckless growth, ensuring a largely stable advance mix.


We maintain our target price, as we expect upside to be capped by the warrant issue price in the near term. At 2.9x FY21E P/ABV, maintain Accumulate.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jul 15, 2019 04:30 pm
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour