Sell IndusInd Bank, target price Rs 1065: Motilal Oswal Financial Services

Motilal Oswal Financial Services has sell call on IndusInd Bank with a target price of Rs 1065.The current market price of IndusInd Bank is Rs 1114.4. Motilal Oswal Financial Services recommended to keep stop loss at Rs 1140.

IndusInd Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 86578.97 Crore).

IndusInd Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 11533.89 Crore, up 7.60 % from last quarter Total Income of Rs 10719.20 Crore and up 19.97 % from last year same quarter Total Income of Rs 9614.34 Crore. The bank has reported net profit after tax of Rs 1963.64 Crore in latest quarter.

Investment Rationale
Breakdown on daily frame and continuously making lower highs from the last four sessions.

Promoter/FII Holdings
Promoters held 16.51 per cent stake in the company as of 31-Dec-2022, while FIIs owned 44.79 per cent, DIIs 24.46 per cent.