IndusInd Bank rises 2% after Q2. What brokerages say
IndusInd Bank announced a net profit of Rs 1,176 crore for the quarter ending September 2027. The bank's asset quality improved with gross non-performing assets declining to 2.73% from 3.6% a year earlier. Jefferies adjusted its target price for the bank's shares down to Rs 1,130 due to changing credit cost expectations. Motilal Oswal maintained a neutral stance with a target price of Rs 1,050,…
IndusInd Bank's shares rose 2% to Rs 853 on the BSE following the private lender's strong Q2 results. The bank reported a net profit of Rs 1,176 crore, up from a loss of Rs 445 crore in the same period last year. Net interest income increased by 4% year-on-year to Rs 4,569 crore. Asset quality improved with gross non-performing assets declining to 2.73% of gross advances.
The provision coverage ratio stood at 70.19%, up from 71.81% a year earlier. Fee and other income jumped 36% year-on-year to Rs 2,248 crore, while net revenue increased 12.5% to Rs 6,817 crore. Jefferies cut its target price for IndusInd Bank after the earnings print, citing tighter banca fee rules and slightly higher credit costs.
However, Jefferies maintained its 'Buy' rating on the stock, noting attractive valuations at current levels. Motilal Oswal Financial Services maintained a 'Neutral' rating with a target price of Rs 1,050, implying a 26% upside potential.
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