IndusInd Bank’s stock price is in focus after Macquarie maintained an ‘outperform’ rating, with a target price of ₹1,210, implying a 29.41% upside from the current market price (CMP) of ₹935.00.
The brokerage highlights that RBI’s approval of only a one-year CEO extension, instead of the usual three years, creates medium-term uncertainty. Macquarie warns that the current CEO may step down early, or the bank may appoint a new CEO post his tenure, possibly from a PSU background. While there have been precedents of a one-year extension followed by a three-year renewal (as seen in Federal Bank), Macquarie sees this as an unlikely scenario for IndusInd Bank.
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