Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

CLSA maintains buy on IndusInd Bank, target price Rs 2,160

Buy IndusInd Bank Ltd. at a price target of Rs 2160.0 .|
Updated: Aug 26, 2019, 08.41 AM IST
CLSA has maintained buy rating on IndusInd Bank with a long term target price of Rs 2,160. The stock ended down 1.9% at Rs 1,310.35 on Friday.

Company Financials

For the quarter ended 30-06-2019, the bank has reported a Consolidated Interest Income of Rs 5753.84 crore, up 17.55 % from last quarter Interest Income of Rs 4894.74 crore and up 38.76 % from last year same quarter interest income of Rs 4146.62 crore. The bank has reported net profit after tax of Rs 1432.50 crore in latest quarter.

Investment Rationale

IndusInd Bank’s FY19 annual report shows that the deposit franchise needs to be strengthened through lower CASA per branch and its share in funds and higher deposit concentration, said CLSA. Simultaneously, LCR details show that net outflows/deposits are largely in line with the peer-group and a morethan 130 bps fall in CD rates since March 2019 offers scope for refinancing at cheaper rates, it said.

Also Read

Adrian Mowat joins CLSA as chief strategist

Brokerage Radar: CLSA on financials and telecom sector

CLSA retains sell on Ashok Leyland, lowers target price to Rs 40

CLSA maintains buy rating on Cadila Healthcare, target price Rs 285

Buy Sadbhav Engineering, target Rs 320: CLSA

Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service