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IndusInd Bank share price up 3% ahead of Q3 result; management commentary eyed

Provisions could remain elevated given the fact that they have exposure to the MFI sector as well as personal loan and unsecured business. Net interest margin (NIM) could be under pressure on a YoY basis.

January 29, 2021 / 09:54 AM IST
IndusInd Bank | In FY21 so far, the stock has jumped 168 percent to Rs 940.15 as on January 19, 2021 from Rs 351.15 as on March 31, 2020.

IndusInd Bank | In FY21 so far, the stock has jumped 168 percent to Rs 940.15 as on January 19, 2021 from Rs 351.15 as on March 31, 2020.

 
 
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IndusInd Bank share price was up over 3 percent in the morning session on January 29 ahead of its Q3 results which will be declared later today.

The market expects the lowest NII growth. The private lender saw a strong deposit momentum this time around when deposits grew by 5 percent QoQ. The low-cost deposit ratio also improved on a sequential basis, however, the net advances were bit tepid, only 0.1 percent year-on-year (YoY) and a little over 3 percent sequentially, according to a CNBC-TV18 estimate.

Provisions could remain elevated given the fact that they have exposure to the MFI sector as well as personal loan and unsecured business. Net interest margin (NIM) could be under pressure on a YoY basis. Watch out for commentary with respect to credit cost, loan growth and restructuring.

The bank witnessed provisional loan growth at 3.2 percent as at end December on a quarter-on-quarter (QoQ) basis while deposits grew by 5 percent.

The total loan book grew to Rs 2,07,691 crore at the end of December compared with Rs 2,01,247 crore in the preceding quarter while deposits grew to Rs 2,39,600 crore from Rs 2,28,279 crore in the September quarter, the bank said in a notification to exchanges.

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The stock was trading at Rs 832.90, up Rs 30.30, or 3.78 percent at 09:26 hours. It has touched an intraday high of Rs 833.15 and an intraday low of Rs 816.70.

The scrip was one of the most active stock in terms of value on NSE with 19,99,405 shares being traded.
Moneycontrol News
first published: Jan 29, 2021 09:54 am

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