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Sell IndusInd Bank, target Rs 1,260: Kunal Bothra

Sell IndusInd Bank Ltd. at a price target of Rs 1,260 and a stoploss at Rs 1365 from entry point.

ETMarkets.com|
Updated: Jul 31, 2019, 08.58 AM IST
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Independent analyst Kunal Bothra has a sell call on IndusInd Bank Ltd. with a target price of Rs 1260. The current market price of IndusInd Bank Ltd. is Rs 1336.9 Time period given by the analyst is Intra Day when IndusInd Bank Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 1365. IndusInd Bank Ltd., incorporated in 1994, has a market cap of Rs 80657.69 crore.

IndusInd Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 18256.68 Crore to Sales Value (82.01 % of Total Sales), Income From Investment which contributed Rs 3677.34 Crore to Sales Value (16.51 % of Total Sales), Interest which contributed Rs 225.10 Crore to Sales Value (1.01 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 102.03 Crore to Sales Value (0.45 % of Total Sales)for the year ending 31-Mar-2019.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 30-06-2019, the company 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.

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