Buy IndusInd Bank with a target of Rs 1500: CLSA

CLSA has a buy call on IndusInd Bank Ltd. with a target price of Rs 1500 . The current market price of IndusInd Bank Ltd. is Rs 1220.9 . The brokerage gave a year for IndusInd Bank Ltd. price to reach the defined target. IndusInd Bank is leveraging strengthening of CASA, MCLR regime to gain market share in loans, said the note. Larger corporate loans will not only aid growth but can also de-risk loan mix, said the brokerage note. It sees fee growth of 23 per cent which lagged loan growth, but asset quality remains strong. The global investment bank sees 26 per cent CAGR in profit over FY16-19CL aided by a healthy rise in topline, and stable credit costs.