The brokerage argued that the profitability downcycle, marked by several quarters of net interest margin (NIM) compression and elevated credit costs, is now behind the sector.
In the past one month, the stock price of IndusInd Bank has outperformed the market by gaining 13 per cent, as against 1 per cent rise in the BSE Sensex.
IndusInd Bank share price rallied today amid reports that the Economic Offences Wing (EOW) of the Mumbai Police found no lapses in the lender's finances
Kunal Kamble, senior technical research analyst at Bonanza, is bullish on Garden Reach Shipbuilders & Engineers, IndusInd Bank, and MTAR Technologies
This year, IndusInd Bank disclosed incorrect accounting on derivative trades that prompted a $230 million hit to its accounts and led to exit of former CEO Sumant Kathpalia and deputy CEO Arun Khurana
IndusInd Bank has appointed Amitabh Kumar Singh, a former ICICI Group executive, as its Chief Human Resources Officer, effective November 10, as part of its leadership expansion drive
In the September quarter - the first under new chief executive Rajiv Anand - the bank reported a net loss as its loan and deposit portfolios shrank
As per the new rules, the index must include a minimum of 14 constituents, compared with the current 12, while the weight of the top constituent will be capped at 20% - down from 33% presently.