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Analysts cautious on IndusInd Bank despite all-round beat in Q3; here's why

Nuvama Institutional Equities has downgraded IndusInd Bank's stock to 'hold' from 'buy'

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Nikita Vashisht New Delhi
IndusInd Bank Q3 review: Despite an all-round beat in the December quarter (Q3) results for 2022-23 financial year (FY23), shares of IndusInd Bank settled 1.76 per cent down at Rs 1,201 apiece on the BSE on Thursday, after falling 3 per cent intra-day. By comparison, the benchmark S&P BSE Sensex ended 0.3 per cent lower.

The drop comes as analysts flagged deepening challenges to deposit growth, and potential margin compression in quarters ahead.

Nuvama Institutional Equities, for instance, has downgraded the stock to ‘hold’ from ‘buy’, and has cut its one-year target price to Rs 1,375 (from Rs 1,400)

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First Published: Jan 19 2023 | 12:15 PM IST

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