Buy IndusInd Bank, target Rs 1,840: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on IndusInd Bank Ltd. with a target price of Rs 1840. The current market price of IndusInd Bank Ltd. is Rs 1815.85. Time period given by the analyst is Intra Day when IndusInd Bank Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 1,800. IndusInd Bank Ltd., incorporated in 1994, has a market cap of Rs 109471.39 crore.

IndusInd Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 13699.91 Crore to Sales Value (79.27 % of Total Sales), Income From Investment which contributed Rs 3074.38 Crore to Sales Value (17.79 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 321.48 Crore to Sales Value (1.86 % of Total Sales) and Interest which contributed Rs 184.99 Crore to Sales Value (1.07 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 1968.15 Crore (1.13 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 1029.27 Crore (.59% of total assets). For the quarter ended 31-12-2018, the company has reported a Standalone Interest Income of Rs 4763.22 Crore, up 6.99 % from last quarter Interest Income of Rs 4452.10 Crore and up 37.28 % from last year same quarter Interest Income of Rs 3469.61 Crore. The bank has reported net profit after tax of Rs 985.03 Crore in latest quarter.