IndusInd Bank (IIB) reported a strong 1QFY17 with (1) Robust and diversified loan growth despite corporate sell-downs of Rs 16bn, (2) A sequential uptick in margins aided by yields and cost of funds, (3) Strong CASA growth, although the ratio was down marginally given strong deposit growth, and (4) Stable asset quality. IIB provided for ~Rs 0.4bn (15%) towards its Food Corporation of India (FCI) exposure, restricting PAT growth to 26/7% YoY/QoQ. HDFC Securities Maintain BUY with revised TP is Rs 1,220/sh (3.2x Mar-18 ABV of Rs 381). Near term trajectory should remain in-line with markets.Trendlyne has 14 reports on INDUSINDBK updated in the last year from 5 brokers with an average target of Rs 1194. Brokers have a rating for INDUSINDBK with 3 price upgrades in past 6 months.