IndusInd Bank Ltd. share price target

The management had recognised exposure of | 961 crore as fraud in Q3FY20, to be provided through P&L; account in four quarters. Consequently, the bank has recognised | 240 crore in Q3FY20, | 240 crore in Q4FY20. Remaining, | 480 crore is to be provided in next two quarters. The bank has provisioned | 75 crore for a stressed telecom exposure. To shore up provision coverage amid Covid-19 uncertainty, floating provision of | 260 crore was been created. The bank said advances in low single digit opted for moratorium. Such exposure was at ~| 460 crore while 5% has...

IIB's earnings of Rs3.0bn (PLe: Rs3.3bn) were in-line with expectation as bank made high provisions to improve its PCR to 63% from 53% sequentially, which was lagging behind peers. Slower earnings trajectory was also on back of Rs5.5-6.0bn of higher provisions for potential COVID impact & on stressed telecom sector. Overall PPOP performance was better with strong NII led by expansion in NIMs of 10bps sequentially, contrary to expectations, while opex control also helped. With IIB's diversified book it is vulnerable to weak macroeconomics and could see higher prolonged stress. In view with this,...

Weekly Wrap: Fed, ECB meet in focus. IIB: No respite from asset quality challenges

IndusInd Bank saw strong operational performance for the March quarter with revenue growing 32% driven by NII growth of 45% and fee income growth of 14%. It saw NIM improvement of 10 bps QoQ driven by fall in cost of deposit. It saw improvement in its cost to income ratio which resulted in strong operating growth of 38%. Loan book grew by 11%...

IndusInd Bank's (IIB) Q4FY20 PAT at Rs 3bn (16% YoY) was ahead of estimates due to an NII beat.

We continue to see stable asset quality, but situation remains fluid. We revised our estimates for FY20-22E and now value the stock at 0.8x FY22E BVPS, with a revised target price of Rs. 503 and continue to retain BUY as valuation looks attractive at current levels. Corona update and impact on industry Coronavirus pandemic continues to disrupt economy with number of infected people crossing +1.4mn globally (~90k deaths). India imposed a 21 day nation-wide lockdown (from 25th Mar) to contain the spread and could potentially extend it for few...

IndusInd Bank (IIB) hosted an analyst call to address the implications of Covid-19 on its portfolio.

NIM improved; Asset quality stable for now IndusInd Bank (IIB), a part of the Hinduja Group, provides loans for vehicles, property, etc. in its consumer finance division, while the corporate banking...

Q3FY20 GDP: Growth to recover in FY21. IIB: Leadership overhang recedes

As per a press release on the exchanges, IndusInd Bank (IIB) has received RBI approval to appoint Sumant Kathpalia as MD & CEO for three years beginning 24 March.