IndusInd Bank climbs 2%; Deutsche Bank maintains buy on the stock
Deutsche finds the stock attractive at 2.2 times FY21E price to book value (P/BV).
By ETMarkets.com | Updated:
BCCL
NEW DELHI: Shares of IndusInd Bank climbed 2 per cent in morning trade on Thursday after Deutsche Bank maintained 'buy' recommendation on the stock with a target price of Rs 1,900.
Deutsche said the Bharat Financial-IndusInd Bank merger benefits will play out and the fears on nonperforming loan (NPL) are misplaced as the stress book is gradually declining.
It expects IndusInd to deliver nearly 2 per cent return on assets (RoA) and 20 per cent return on equity (RoE) by the financial year 2021.
As per Deutsche, the management of IndusInd Bank expects the trends in asset quality to return to normal levels.
Deutsche finds the stock attractive at 2.2 times FY21E price to book value (P/BV).
Shares of IndusInd closed 1.13 per cent up at Rs 1,451.45 on BSE.
Deutsche said the Bharat Financial-IndusInd Bank merger benefits will play out and the fears on nonperforming loan (NPL) are misplaced as the stress book is gradually declining.
It expects IndusInd to deliver nearly 2 per cent return on assets (RoA) and 20 per cent return on equity (RoE) by the financial year 2021.
As per Deutsche, the management of IndusInd Bank expects the trends in asset quality to return to normal levels.
Deutsche finds the stock attractive at 2.2 times FY21E price to book value (P/BV).
Shares of IndusInd closed 1.13 per cent up at Rs 1,451.45 on BSE.
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