Moneycontrol Be a Pro
Get App
Last Updated : Jul 15, 2019 03:02 PM IST | Source: Moneycontrol.com

Buy IndusInd Bank; target of Rs 1800: Prabhudas Lilladher

Prabhudas Lilladher is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 1800 in its research report dated July 12, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Prabhudas Lilladher's research report on IndusInd Bank


IIB's earnings saw strong beat with PAT of Rs14.3bn (PLe: Rs10.6bn) mainly due to lower provisions than expectations and better NII growth. Core IIB was slightly looked weaker on NII translated by slightly slower loan growth. Most metrics like CI & asset quality improved with stressed assets at 1.7% of loans & SMA-2 at 17bps of loans. Some merger synergies are yet to play out on funding costs, liabilities accretion & RWA efficiency while MFI & biz banking reclassification has improved balance of book towards consumer. Bank is well positioned with return ratios of 17-18% ROE although any re-rating will need clear visibility on asset quality.


Outlook


We maintain BUY with TP of Rs1,800 (unchanged) based on 2.9x FY21 ABV.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Close


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 03:02 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant