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Last Updated : Jul 15, 2019 03:02 PM IST | Source:

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.

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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.


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 are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.


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First Published on Jul 15, 2019 03:02 pm
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