Buy Indian Bank, target Rs 361: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Indian Bank with a target price of Rs 361.0 . The current market price of Indian Bank is Rs 354.8 Time period given by analyst is Intra Day when Indian Bank price can reach defined target. Dr CK Narayan recommended to keep stoploss at Rs 346. Indian Bank, incorporated in 1907, has a market cap of Rs 17040.75 crore.

Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 11857.14 Crore to Sales Value (69.28 % of Total Sales), Income From Investment which contributed Rs 5113.15 Crore to Sales Value (29.87 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 121.65 Crore to Sales Value (0.71 % of Total Sales) and Interest which contributed Rs 21.71 Crore to Sales Value (0.12 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 11990.14 Crore (7.37 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 5959.57 Crore (3.81% of total assets). For the quarter ended 31-03-2018, the company has reported a Standalone Interest Income of Rs 3097.48 Crore, up 2.25 % from last quarter Interest Income of Rs 3029.46 Crore and up 12.29 % from last year same quarter Interest Income of Rs 2758.57 Crore. The bank has reported net profit after tax of Rs 131.98 Crore in latest quarter.