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BUZZ-IndusInd Bank gains on Sept-qtr profit boost
October 13, 2016 / 4:16 AM / a year ago

BUZZ-IndusInd Bank gains on Sept-qtr profit boost

** IndusInd Bank gains as much as 2 pct to 1,245.60 rupees, the highest since Sept. 7

** The state-owned lender on Wednesday posted a near-26 pct rise in Sept-qtr profit

** Bank reported a 26 pct growth in the loan portfolio, led by steady growth in both retail and wholesale business

** “IndusInd Bank appears to be on track to sustain its margin profile and maintain strong earnings traction,” analysts at Antique Stock Broking say

** The bank appears to be on track to achieve about 40 pct CASA (current and savings account) mix and sustain more than 4 pct NIM (net interest margins) over the medium term - Antique Stock Broking

** Brokerage has a PT of 1,300 rupees, rating “Buy”

** At 0350 GMT, stock was up 0.57 pct in an otherwise weak Mumbai market (RM: aastha.agnihotri.thomsonreuters.com@reuters.net)

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