Macquarie has reiterated its Outperform rating on IndusInd Bank, assigning a target price of ₹1,210 per share. At the current market price of ₹837.50, this implies a potential upside of approximately 44%.
The brokerage believes that clarity on top management succession could serve as a significant catalyst for the stock. Following the recent resignation of CEO Sumant Kathpalia, Macquarie noted that the appointment of a private sector banker as the next CEO could trigger a re-rating. It is also tracking the possible nomination of a PSU banker by the RBI as a board director, which in past instances — such as Yes Bank, Bandhan Bank, and RBL — has preceded a PSU-led leadership transition.
Macquarie emphasized that the uncertainty around leadership is currently a key overhang, and progress on this front may help restore investor confidence and drive valuations higher.
The firm remains positive on the bank’s core operating metrics but flagged that succession planning and leadership visibility will be critical in determining near-term stock performance.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions.
