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Low valuation sparks interest in IndusInd
Business Standard
|November 13, 2024
Analysts believe worst may be over for lender after sombre Q2 results
Private sector lender IndusInd Bank is among the largecap companies that have been punished after posting lacklustre earnings in the September quarter (Q2FY25).
The stock slumped 19 per cent—the most in four years—on October 25 after the higher provisions for slippages in the microfinance (MFI) portfolio dragged its net profit down 40 per cent from the previous year.
In the past two weeks, the stock has languished around ₹1,060 mark amid weakness in the markets due to incessant selling by foreign portfolio investors.
Year-to-date, IndusInd shares are down 34 per cent even as the Nifty Bank index has gained 8 per cent. Given the underperformance, many wonder if IndusInd Bank is a good buy? If the target price set by analysts goes up, the stock can offer a 40 per cent upside from current levels.
Denne historien er fra November 13, 2024-utgaven av Business Standard.
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