Fundamental

INDUSIND BANK RESULT UPDATE Q1FY20



We expect merger with Bharat financial to play out gradually in terms of lower funding cost resulting in better margins going ahead. However, banks exposure towards stressed groups and lower PCR remains the concern. We believe return ratios i.e. RoAs/RoEs to improve going forward led by better margins and lower opex. We have a HOLD rating on the stock with a price target of Rs 1646, valuing the bank at 2.8x FY21E ABV.


Tags: FundamentalResult Update


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