Accumulate IndusInd Bank at a target price Rs 1050 for 12 months: Prabhudas Lilladher

Prabhudas Lilladher recommends accumulate rating on IndusInd Bank post Q4 results with a 12-month target price of Rs 1050.

The bank reported 38 per cent QoQ rise in GNPL led by 21 per cent QoQ growth in slippages in consumer portfolio. The Bank did not witness any AQR related slippages (in Q3FY16 had recognized 1 a/c). The target price is based on 2.9x Sep-2017E ABV.