Hold Indusind Bank; target of Rs 1100: Choice Equity Broking

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26 Aug, 2025 12:21

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Choice Equity Broking report on Indusind Bank

Indusind Bank (IIB IN) reported strong set of numbers for Q1FY23 with robust improvement in the business growth and profitability. NII grew by 15.8% YoY on healthy interest income and contained CoF leading to increase in NIM to 4.21%. PAT rose by 60.5% YoY to Rs16 bn (above our estimate of Rs13 bn) led by strong core operating performance and decline in the credit cost. Bank also managed to avoid the MTM losses on active trading strategies. Loan growth rose to multi-quarter high at 17.7% YoY driven by strong growth across broader segments, however expansion in the microfinance book paused after a significant pick-up in the previous quarter owing to regulatory changes.

Outlook

We re-iterate our HOLD rating on IIB IN with target price of Rs1,100 per share, valuing bank at 1.5x FY24E P/Adjusted Book Value.

More Info

At 17:30 IndusInd Bank was quoting at Rs 942.80, down Rs 5.35, or 0.56 percent.

It has touched an intraday high of Rs 956.35 and an intraday low of Rs 939.00.

It was trading with volumes of 188,058 shares, compared to its thirty day average of 135,742 shares, an increase of 38.54 percent.

In the previous trading session, the share closed up 7.88 percent or Rs 69.25 at Rs 948.15.

The share touched its 52-week high Rs 1,241.85 and 52-week low Rs 763.75 on 28 October, 2021 and 23 June, 2022, respectively.

Currently, it is trading 24.08 percent below its 52-week high and 23.44 percent above its 52-week low.

Market capitalisation stands at Rs 73,076.68 crore.

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indusind Bank - 230722 - choice