Nalanda Securities' research report on IndusInd Bank
Advances grew 32.4% YoY to 163,144cr on the back of corporate banking (grew 35% YoY; constitute 61% of advances) and consumer financing book (grew 29% YoY; constitute 39% of advances).
Outlook
Bank is looking to grow a) organically by expanding to 2000 branches from current 1410 branches and b) inorganically by inking agreements with BFI and IL&FS. At LTP of INR 1627, stock is trading at 3.1x FY20E P/ABV, we assign multiple of 3.6x and arrive at target price of 1916.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
