Buy IndusInd Bank, target price Rs 1280: Yes Securities

Yes Securities has buy call on IndusInd Bank with a target price of Rs 1280. The current market price of IndusInd Bank Ltd. is Rs 1195.85.

Time period given by analyst is Intra Day when IndusInd Bank Ltd. price can reach defined target.
IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 92615.62 Crore).


IndusInd Bank Ltd. 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 30-06-2021, the company reported a Consolidated Total Income of Rs 9362.76 Crore, up 1.77 % from last quarter Total Income of Rs 9199.71 Crore and up 7.84 % from last year same quarter Total Income of Rs 8682.17 Crore. The bank reported net profit after tax of Rs 1016.05 Crore in latest quarter.


Investment Rationale
Recent consolidation defended levels of Rs 1,160, sustenance above 1200 could resume prevailing uptrend.

Promoter/FII Holdings
Promoters held 16.54 per cent stake in the company as of 30-Sep-2021, while FIIs owned 51.44 per cent, DIIs 18.96 per cent.