India's IndusInd Bank snaps 7-day rally as investors book profits after Q1 profit jump
BUZZ-India's IndusInd Bank snaps 7-day rally as investors book profits after Q1 profit jump ** Shares of IndusInd Bank INBK.NS fall 4% to 1,026.3 rupees, snapping a seven-session winning streak as investors book profits
** Private lender's Q1 profit jumps 47% Y/Y, helped by lower provisions, interest earned on tax refund
** Management says Q1 marks inflection point, signalling completion of balance sheet recalibration
** Jefferies expects improvements in growth, asset quality, core RoA to continue over next 2-3 years; maintains "buy," raises PT 17% to 1250 rupees
** Antique Stock Broking says co's turnaround under new management progressing, but RoA recovery remains at early stage; maintains "hold,' raises PT 23% to 1130 rupees
** Stock rated "hold" on avg; median PT 925 rupees - data compiled by LSEG
** Stock up 16.8% YTD
(Reporting by Aleef Jahan in Bengaluru)
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