IndusInd Bank gains ahead of Q1 earnings
Analysts on an average expect the bank to report over 30% yoy growth in net profit and net interest income.
IndusInd Bank is trading higher by 2% at Rs 510, ahead of it’s first quarter (April-June) earnings later in the day.
The stock opened at Rs 508 and hit a high of Rs 513 on NSE. A combined around 290,000 shares have changed hands on the counter in early morning deals on NSE and BSE.
Analysts on an average expect the bank to report over 30% year-on-year (yoy) growth in net profit and net interest income during the first quarter of the current financial year 2013-14.
“We expect NIM (net interest margin) to remain sequentially stable at 3.7% due to around 24% yoy loan growth and expect higher support from treasury for non-interest income” says analyst at Kotak Institutional Equities Research.
Analyst expect limited asset-quality stress in retail loans, profit after tax will grow 32% yoy despite higher provisions and the bank is likely to maintain cost-income ratio of 47%.
The stock opened at Rs 508 and hit a high of Rs 513 on NSE. A combined around 290,000 shares have changed hands on the counter in early morning deals on NSE and BSE.
Analysts on an average expect the bank to report over 30% year-on-year (yoy) growth in net profit and net interest income during the first quarter of the current financial year 2013-14.
“We expect NIM (net interest margin) to remain sequentially stable at 3.7% due to around 24% yoy loan growth and expect higher support from treasury for non-interest income” says analyst at Kotak Institutional Equities Research.
Analyst expect limited asset-quality stress in retail loans, profit after tax will grow 32% yoy despite higher provisions and the bank is likely to maintain cost-income ratio of 47%.