IndusInd Bank Ltd.

NSE: INDUSINDBK | BSE: 532187 | ISIN: INE095A01012 |Industry: Banks
|Expensive Performer

IndusInd Bank Ltd.    
10 Jan 2019
Nirmal Bang Institutional
IndusInd Bank (IBL) reported its 3QFY19 results with the key takeaways being: (1) IBL took provision cover to IL&FS; parent exposure to ~30% and expects a cumulative provision requirement of 40-50% on this exposure to IL&FS; parent (2) NIM was largely flat, contracting 1 bp QoQ with management guiding for stable to improving margin (3) Corporate loan growth (ex MFI) at 34% YoY continued to outpace consumer finance growth at 28% YoY. (See detailed conference call takeaways from page 2) Per se, on the key P&L; items, IBL delivered NII, PPOP and PAT growth of 21%, 27% and 5% YoY to Rs22,881mn, Rs21,170mn and Rs9,850mn, respectively. We have retained Buy rating on IBL and revised our target price to Rs2,107 (from Rs2,139 earlier)....
IndusInd Bank Ltd. is trading above all available SMAs
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