IndusInd Bank gains on Sept-qtr profit boost

Last Updated: Thu, Oct 13, 2016 10:05 hrs
Yes Bank

IndusInd Bank gains as much as 2 pct to 1,245.60 rupees, the highest since Sept 7.

The state-owned lender on Wednesday posted a near-26 pct rise in Sept-qtr profit.

Bank reported a 26 pct growth in the loan portfolio, led by steady growth in both retail and wholesale business.

"IndusInd Bank appears to be on track to sustain its margin profile and maintain strong earnings traction," analysts at Antique Stock Broking say.

The bank appears to be on track to achieve about 40 pct CASA (current and savings account) mix and sustain more than 4 pct NIM (net interest margins) over the medium term - Antique Stock Broking.

Brokerage has a PT of 1,300 rupees, rating "Buy".

Stock was up 0.57 pct in an otherwise weak Mumbai market.

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