Motilal Oswal has buy call on IndusInd Bank Ltd. with a target price of Rs 1200. The current market price of IndusInd Bank is Rs 975.65. Time period given by analyst is one year when IndusInd Bank Ltd. price can reach defined target.
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IndusInd Bank Ltd, incorporated in the year 1994, is a banking company (having a market cap of Rs 95514.15 Crore).
IndusInd Bank reported a sharply higher profit at Rs974.95cr in Q1FY22 against Rs460.64cr in Q1FY21, net interest income jumped to Rs3,563.71cr from Rs3,309.19cr yoy.The bank’s asset quality saw a marked deterioration in the quarter as gross non-performing assets ratio climbed to 2.88 per cent from 2.67 per cent in the previous quarter. Similarly, the net NPA ratio rose to 0.84 per cent from 0.69 per cent.
IndusInd Bank reported healthy growth in both corporate and retail loans during the quarter. The lender’s retail assets grew 16.3 per cent year-on-year to Rs 1.55 lakh crore. At the same time, the corporate loan book grew 11.2 per cent on-year to Rs 1.02 lakh crore.