IndusInd Bank to see further growth: HSBC

HSBC has reiterated its 'Overweight' rating on IndusInd Bank with a target price of 326.

IndusInd shares have seen a sharp spurt in the past 45 days from a low of 226 to 316, implying a 40% run-up and 7% and 20% outperformance compared with the Bankex and Sensex indices, respectively.

This is despite the foreign holding in the bank remaining close to the permissible holding levels at 70-71%, implying substantial investor interest in the stock.

HSBC continues to see a structural growth story unfolding with yet undiscovered drivers emerging over the next few years.