Buy IndusInd Bank Ltd. target Rs 1460.0 : Reliance Securities

Reliance Securities has buy call on IndusInd Bank Ltd. with an intra-day target price of Rs 1460.0 .The current market price of IndusInd Bank Ltd. is Rs 1427.0 Time period given by analyst is Intra Day when IndusInd Bank Ltd. price can reach defined target. Reliance Securities recommended to keep stoploss at Rs 1415.0 .

IndusInd Bank Ltd., incorporated in the year 1994, is a banking company with a market cap of ₹ 85631.79 crore. IndusInd Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed ₹ 9244.56 Cr to Sales Value (79.82 % of Total Sales), Income From Investment which contributed ₹ 1780.63 Cr to Sales Value (15.37 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed ₹ 408.50 Cr to Sales Value (3.52 % of Total Sales) and Interest which contributed ₹ 146.97 Cr to Sales Value (1.26 % of Total Sales)for the year ending 31-Mar-2016.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 1054.87 Cr. (.93 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 438.91 Cr. (.39% of total assets). For the quarter ended 31-03-2017, the company has reported a Standalone Interest Income of ₹ 2989.67 Cr., down -.03 % from last quarter Interest Income of ₹ 2990.45 Cr. and up 16.88 % from last year same quarter Interest Income of ₹ 2557.81 Cr. The bank has reported net profit after tax of ₹ 751.61 Cr. in latest quarter.