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Last Updated : Aug 03, 2020 04:11 PM IST | Source: Moneycontrol.com

Buy IndusInd Bank; target of Rs 615: Anand Rathi

Anand Rathi is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 615 in its research report dated July 29, 2020.

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Anand Rathi 's research report on IndusInd Bank

Higher margins and Treasury income led to a 352bp sequential decrease in C/I, which improved to 39.4%. Asset quality and PCR improved. The portfolio under moratorium sharply declined from 50% in Q4 FY20 to 14% in Q1 FY21. The run on deposits last quarter reversed, with 5% sequential growth. SMA disclosures and management commentary suggest no major risk in asset quality due to the Covid’19-driven slowdown.


With lower risk on asset quality than envisaged earlier and the arrest on run on deposits, we change our stance on the bank and accordingly upgrade it to a Buy, with a TP of `615.

For all recommendations report, click here

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First Published on Aug 3, 2020 02:30 pm