Indian Bank share price target

The Bank's Management is gradually infusing confidence through major changes in the operating structure, which has started yielding desired outcome. The Bank is relatively better placed compared to its PSU peers in terms of managing cleaning-up of current loan book effectively. Moreover, as it is adequately capitalized (Tier-I ratio of 12.8%), it would not need any adverse dilution below book value dilution in the near-term, which is a key positive for the long-term investors. Hence, we maintain our BUY recommendation on the stock with an upwardly revised Target Price of Rs286,...

ICICI Securities Ltd | Retail Equity Research PAT was up 9.7% YoY to | 405 crore, led by a better-than-expected operational performance (PPP up 37% YoY to | 1006 crore) NII growth was healthy at 18.3% YoY to | 1278 crore despite flat credit growth YoY to | 122563 crore. Margins improved 17 bps QoQ to 2.64%, the best number in the last several quarters. The margin increase was mainly led by a fall in cost of funds by 25 bps QoQ Other income also aided earnings as it grew 33.6% YoY to | 585...

Deposits increased by (1.1%YoY) to INR 1774bn. Term deposits declined marginally by 3%YoY, while CASA deposits grew by a healthy (11.5%YoY) led by growth in SA of (11.7%YoY). Growth in CA was noted at (10.7%YoY). Consequently the share of CASA was noted at 31.1% as of 1QFY17 as compared to 28.2% as of 1QFY16. Share of Bulk Deposits to Total Deposits...

with RoA at 0.6%m RoE of 8%. We maintain HOLD rating on the stock but vishal.narnolia@icicisecurities.com revise TP higher to | 190 (earlier | 91) as we raise our target multiple to...

Outlook and valuation: At a CAR of 13.2% (tier1 at 12.08%) Indian Bank is sufficiently capitalisedtofunditsneartermgrowth.Themanagementisalsotakingeffortsbyputting thrust on retail and SME to drive loan growth drivers in FY17, as demand from corporate loanswouldremainweak.Weexpectthetrendinslippagestoimproveasithasrecognised mostofNPAsinFY17andthebaggagefromexistingrestructuredloanbookwillnoterode theassetqualitysignificantly.WehaverevisedourearningsestimateforFY17andFY18by 32%and20%respectively,duetoimprovementinNIIandlowerNPAandhaverevisedour...

Strong core PPoP growth; Asset quality pressures likely to recede in FY17 Indian Bank (INBK) reported 1QFY17 PAT of INR3.1b (+43% YoY, 87% beat), led by strong core PPoP growth (+25% YoY) and lower-than-expected credit costs (1.3%). Slippages declined to INR8.3b (2.7% of loans, annualized) v/s INR29.2b in 4Q. GSL ratio stood at 12.0% v/s 11.6% in 4QFY16. Management expects the run-rate in...

8 Indian Bank reported net profit of Rs 845mn, marginally better than our muted expectation(Rs597mn)ledbytaxreversalofRs710mn. 8 Operatingperformancecontinued to remain weak due to tepid NIIgrowth led by yoy...

Share of Bulk Deposits to Total Deposits (domestic) came in at 4.46% for the current quarter. NIM increased marginally by 6 bps QoQ to 2.33% standing its ground, even as the stress through AQR was fully provisioned for during this quarter. Cost of deposits decreased by 11bps...

ICICI Securities Ltd | Retail Equity Research Overall results were disappointing owing to higher-than-expected provisions. Asset quality woes continued with highest ever net...

Indian Bank's global advances grew a muted (4.4%YoY, 0.6%QoQ) in 3QFY16 to INR 1260bn with contribution from Corporate (52%), MSME (15%). Agro (19%) and Retail (14%). Overseas business contributes 6% of the total advance. Deposits grew (18.9%YoY, 1.1%QoQ) to INR 1746bn. Term deposits contracted (16.3%YoY, 0.3%QoQ) to INR 1229. CASA grew (11.9%YoY, 4.6%QoQ) led by growth in SA (14%YoY, 5.7%QoQ), while CA growth was weak (0.8%YoY). NIM contracted (5 bps QoQ) to 2.3% amid interest reversal on higher slippages. Cost...