IndusInd Bank recorded a good all-round performance. Shares of IndusInd Bank rallied 4 percent to a 52-week high of Rs 1,443.40 in early trade on July 19, buoyed by the lender’s healthy earnings for the April-June quarter. Most brokerages too cheered for its robust financials that helped boost the investor sentiment.
Earnings Highlights
- Net profit for April-June quarter: Rs 2,124 crore, up 33% YoY.
- Total income for the quarter: Rs 12,939 crore, up 28% YoY.
- Net interest income (NII) for the quarter: Rs 5,863 crore, up 18% YoY.
- Gross non-performing assets (NPA): 1.94%, down from 1.98% last quarter.
- Net NPA: 0.58%, down from 0.59% on a sequential basis.
Brokerages’ Revised Targets
| Brokerage | Target Price (Rs) | Rating |
|---|---|---|
| Morgan Stanley | 1,800 | Overweight |
| Citi | 1,630 | Buy |
| JP Morgan | 1,250 | Neutral |
| Nuvama Institutional Equities | 1,620 | Buy |
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