IndiaNivesh maintains 'buy' on IndusInd Bank, target price Rs 1,500

IndiaNivesh has maintained its buy rating on IndusInd Bank with a target price of Rs 1,500 as against the current market price of Rs 1,182. The target price takes into account likely additional stress from vulnerable segments although the brokerge has not plugged the same into our estimates yet. At two times FY21 estimated book value and 11.1 time FY21 estimated EPS, IndiaNivesh believes that IndusInd Bank’s risk-reward is attractive. With core return on assets remaining robust, the brokerage expects IndusInd Bank to be able to absorb asset quality shocks.