Indian lender IndusInd's earnings growth to lead sector -Sharekhan

City Union Bank

27/12/2023 08:08

** IndusInd Bank  INBK.NS  jumps nearly 2% to 4-1/2 year
high of 1,599.90 rupees
    ** Brokerage Sharekhan expects IndusInd's earnings growth to
outpace the sector, led by stable margins, above industry-avg
loan growth and improving credit costs
    ** Sharekhan maintains "buy" and raises PT to 1,850 rupees
vs analysts' median PT of 1,700 rupees, per LSEG data
    ** Sharekhan expects IndusInd's net interest margins (NIM)
to remain stable at ~4.3% for FY24, outperforming peers
    ** Last week, Antique Stock Broking raised its PT on INBK to
1,800 rupees on positive earnings outlook
    ** Analaysts avg rating on INBK is "buy," similar to peers
Bandhan Bank  BANH.NS  and City Union Bank  CTBK.NS  -LSEG data
    ** INBK's ~30% YTD rise outperforms Nifty Bank index's
 .NSEBANK  ~12% growth

 (Reporitng by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))