Buy Indian Bank, target price Rs 220: Emkay Global

Emkay Global has buy call on Indian Bank with a target price of Rs 220. The current market price of Indian Bank is Rs 152.45. Time period given by analyst is one year when Indian Bank price can reach defined target.

Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 18787.48 Crore).

Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 11645.82 Crore, up 1.15 % from last quarter Total Income of Rs 11513.70 Crore and up .64 % from last year same quarter Total Income of Rs 11571.34 Crore. The bank reported net profit after tax of Rs 731.58 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 79.86 per cent stake in the company as of 31-Dec-2021, while FIIs owned 1.85 per cent, DIIs 10.6 per cent.