IndusInd Bank Ltd.

NSE: INDUSINDBK | BSE: 532187 | ISIN: INE095A01012 |Industry: Banks
|Momentum Trap

IndusInd Bank Ltd.    
10 Jan 2019
IDBI Capital
Momentum in balance sheet growth has further picked up with loan growth of 35% driven by across segments. While NII growth of 21% is in line with our expectations, PAT growth of 5% is tad above our expectations. While ILFS exposure of Rs30bn is still standard, bank has made standard asset provision of Rs2.5bn during the quarter in addition to Rs2.8bn made during last quarter. We have cut our earnings by 5% for FY19, factoring in additional provision for ILFS in Q4. We retain our BUY rating with a TP of Rs1,935 (Rs1,980 earlier)...
Number of FIIs/FPIs holding stock rose by 17 to 642 in Mar 2019 qtr.
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