Jefferies has maintained a ‘Buy’ rating on IndusInd Bank, with a target price of ₹1,200/share, indicating a potential upside of 20.5% from the current market price (CMP) of ₹996.00.
The Q3FY25 pre-quarter update shows a moderation in loan growth to 12% year-on-year (YoY) and 3% quarter-on-quarter (QoQ). CASA deposits increased by 1% YoY, while retail deposits saw a robust growth of 14% YoY and 4% QoQ, highlighting the bank’s focus on strengthening its deposit franchise.
Jefferies believes the bank’s performance remains solid, with a strong retail deposit base and consistent growth trajectory.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
