Overweight IndusInd Bank, target Rs 1525 : Morgan Stanley

Morgan Stanley has an overweight call on IndusInd Bank Ltd. with a target price of Rs 1525 .The current market price of IndusInd Bank Ltd. is Rs 1220.7 The brokerage gave a year for IndusInd Bank Ltd. price to reach the defined target. Strong earnings growth was helped by accelerating net interest income (NII), stable fee income and strong asset quality. The global investment bank expects strong earnings growth to sustain given well-diversified portfolio. Continued investments in new products and gradually improvements in macros are a couple of factors which are likely to help sustain growth for the bank, said the Morgan Stanley note. The stock is a preferred pick given strong balance sheet, high profitability, and diversified loan mix.