IndusInd Bank Ltd. share price target

IndusInd Bank (IIB) commenced its operations in 1994 and had transformational management change in 2008. Since management change, the bank has successfully completed three phases of planning cycle and

An expected set of numbers

IndusInd Bank (IIB) demonstrated 1.8% RoA and 14.45% RoE in Q2FY23, thereby improving visibility of it being able to deliver >5% PPoP/loans, 1.7%/1.9% RoAs and 14.4%/15.7% RoEs by FY23E/FY24E respectively.

Technical indicators (moving averages) are indicating a sideways to bullish view as the prices are sustaining above all EMA but the stock is continuously failing to progress above pre-covid levels along with Q2 2021-2022 levels, working as resistance wherein Double Top formation is in progress.

We expect IndusInd Bank (IIB) to further build on the 1.7% RoA and 13.4% RoE delivered in Q1FY23, thereby reaffirming our confidence in its ability to deliver >5% PPoP / loans, 1.7% / 1.9% RoAs and 15% / 16% RoEs by FY23E / FY24E respectively.