Sell IndusInd Bank, target Rs 1850: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a sell call on IndusInd Bank Ltd. with a target price of Rs 1850. The current market price of IndusInd Bank Ltd. is Rs 1904.7.Time period given by the analyst is Intra Day when IndusInd Bank Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 1925.

IndusInd Bank Ltd., incorporated in 1994, is a banking company with a market cap of Rs 114348.85 crore. IndusInd Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 11479.11 Crore to Sales Value (79.68 % of Total Sales), Income From Investment which contributed Rs 2466.89 Crore to Sales Value (17.12 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 330.83 Crore to Sales Value (2.29 % of Total Sales) and Interest which contributed Rs 128.84 Crore to Sales Value (0.89 % of Total Sales)for the year ending 31-Mar-2017.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 1704.91 Crore (1.17 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 745.67 Crore (.51% of total assets). For the quarter ended 31-03-2018, the company has reported a Standalone Interest Income of Rs 3669.32 Crore, up 5.76 % from last quarter Interest Income of Rs 3469.61 Crore and up 22.73 % from last year same quarter Interest Income of Rs 2989.67 Crore. The bank has reported net profit after tax of Rs 953.09 Crore in latest quarter.