IndusInd Bank Ltd. share price target

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.

IndusInd Bank (IIB) demonstrated 1.7% RoA and 13.4% RoE in Q1FY23, thereby, reaffirming our (above the consensus) confidence of it being able to deliver >5% PPoP/loans, 1.7%/1.9% RoAs and 15%/16% RoEs by FY23E/FY24E, respectively.