Goldman Sachs has maintained a ‘buy’ rating on IndusInd Bank, setting a target price of ₹1,635 per share, implying a 12% upside from the current market price of ₹1,462.00. The bank’s board has reappointed the MD and CEO, subject to RBI approval, which removes the near-term uncertainty related to potential management changes.
Goldman Sachs believes that the reappointment of leadership provides stability and allows the focus to shift back to the bank’s fundamentals. The next major event for the stock will be the Q2 results, where the bank is expected to post a profit after tax (PAT) of ₹2,200 crore, which is anticipated to be roughly in line with market expectations.
Additionally, credit costs are estimated to remain elevated at 1.2% in Q2, similar to Q1 levels, while gross non-performing assets (GNPA) are expected to remain stable at around 2%.
Disclaimer: Stock market investments are subject to market risks. The information provided in this article is for informational purposes only and should not be construed as investment advice or a recommendation. Readers are advised to seek independent financial advice before making any investment decisions. The author and the publication are not responsible for any investment losses incurred based on the information provided.
