Target: ₹1,950CMP: ₹1,560.85IndusInd Bank Q3 PAT of ₹2,300 crore (5 per cent q-o-q/17 per cent y-o-y) was a beat on consensus, led by robust loan growth (3.7 per cent q-o-q), stable NIMs, lower credit cost (115 bps) and impressive growth in retail deposits (5 per cent q-o-q).
Overall Q3 ticked most boxes (stable NIMs/credit costs, broad based asset growth and good quality dep growth; slightly elevated auto/MFI slippages the only miss). Overall, the bank is well positioned to beat guidance/expectations on NIMs (b/s mix ideal in a rate cut cycle) and credit costs in FY25 – delivering close to 2 per cent RoAs.
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Source: https://www.thehindubusinessline.com/markets/brokers-call-indusind-bank-buy/article67756659.ece/amp/