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Last Updated : Jan 10, 2019 04:43 PM IST | Source: Moneycontrol.com

Buy IndusInd Bank; target of Rs 1914: Anand Rathi

Anand Rathi is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 1914 in its research report dated January 09, 2019.

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Anand Rathi's research report on IndusInd Bank


Across key parameters IIB reported another quarter of strong growth. Advances/PPOP/NII were up 35%/27%/21%. Provisions made for the exposure to IL&FS, however, dragged on profitability. We are sanguine about its loan-growth prospects and its asset quality (barring the IL&FS exposure), given its low stressed pipeline and insignificant restructured portfolio. We retain our Buy recommendation.


Outlook


Our Jan?19 target of `1,914 is based on the two-stage DDM model. This implies a ~3.1x P/ABV multiple on its FY21e book.


For all recommendations report, click here


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First Published on Jan 10, 2019 04:43 pm
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