Sell IndusInd Bank, target price Rs 840: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has sell call on IndusInd Bank Ltd. with a target price of Rs 840. The current market price of IndusInd Bank Ltd. is Rs 883.25 Time period given by analyst is Intra Day when IndusInd Bank Ltd. price can reach defined target.

IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 68354.72 Crore).

IndusInd Bank Ltd. 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-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 9488.06 Crore, up 1.34 % from last quarter Total Income of Rs 9362.76 Crore and up 8.66 % from last year same quarter Total Income of Rs 8731.52 Crore. The bank reported net profit after tax of Rs 1146.73 Crore in latest quarter.

Investment Rationale
Decisive break down below 915 zones, negative crossover on Mechanical indicators.

Promoter/FII Holdings
Promoters held 16.54 per cent stake in the company as of 30-Sep-2021, while FIIs owned 51.44 per cent, DIIs 18.96 per cent.