Buy IndusInd Bank; target of Rs 1060: Firstcall

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26 Aug, 2025 12:21

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Firstcall Research's report on IndusInd Bank"For the 2nd Quarter of FY16, IndusInd Bank reported 31.35% rise in Net Interest Income of Rs. 10942.80 mn as against Rs. 8331.10 mn in the corresponding quarter of the previous year. In Q2 FY16, Net Profit stood at Rs. 5600.40 mn against Rs. 4302.00 mn in Q2 FY15. Operating Profit for the 2nd quarter of FY16 was Rs. 10065.30 mn as against Rs. 7246.70 mn in the same quarter of the previous year, showing a growth of 38.89%. Net Interest Margin (NIM) for the Sept quarter was 3.88% as against 3.63 % in the corresponding quarter of the previous year.""Total Advances as on September 30, 2015 were at Rs.782939.40 mn as compared to Rs. 599313.40 mn in the corresponding quarter of the previous year, recording a growth of 30.64%. Total deposits as on September 30, 2015 were at Rs. 808405.40 mn as compared to Rs. 659960.90 mn in the corresponding quarter of the previous year, up by 22.49%. This quarter, the Bank has shown consistent performance in its bottom lines given the challenging times, both globally as well as in the domestic market. However, the overall industry sentiment is looking positive.""The bank’s Operating Profit rose by 38.89% and its NIM has grown to a healthy 3.88%. With its Extensive network in India and presence in rural areas, Indusind bank will be able to reach out to and support the financial requirements of farmers present in remote areas. Indusind Bank Ltd has a total of 854 Branches, and 1578 ATMs spread across the country. With strong fundamentals, IndusInd Bank is expected to outperform its peers in the long run. Though the industrial momentum is slow paced, the company can see steady credit uptick which would accelerate growth in coming quarters.” Thus we recommend BUY for the scrip at a target price of Rs 1060 for medium and long term", says Firstcall Research Report.For all recommendations, 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.

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