Buy IndusInd Bank; target of Rs 1060: Firstcall research

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Firstcall research report on IndusInd BankIndusInd Bank, a mid sized private sector bank commenced its operations in 1994. The bank has a robust technology platform supporting multi-channel delivery capabilities catering to the needs of both consumers and corporates. As on September 30, 2015, IndusInd Bank has 854 branches, and 1578 ATMs spread across 544 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. IndusInd has been included in the Nifty index on 1st April 2013. IndusInd is also listed on BSE and included in BSE 100 and also in three commodity exchanges MSX, NCDEX, and NMCE. IndusInd provides services to 130 PSUs, both central and state, government bodies and insurance companies. The PSU clients of the Bank include Maharatna and Navratna PSUs. IndusInd bank has the distinction of being a clearing cum settlement banker to NSE and BSE for capital and future market segments and for all the commodity and currency future exchanges. The bank is also clearing bank to commodity spot exchanges like National Spot exchange and NCDEX Spot exchange. The bank is currently a settlement banker to 14 exchanges in both the capital and commodities segments. Recently, IndusInd Bank has ranked 13th in the BrandzTop 50 Most Valuable Indian Brands 2015, as adjudged by WPP and Millward Brown.We recommend ‘BUY’ in this particular scrip with a target price of Rs. 1060.00 for Medium to Long term investment.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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