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    why did indusind bank share price jump to a 52-week high on friday?

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    IndusInd Bank shares jump to 52

    Shares of IndusInd Bank surged more than 4% to hit a 52-week high of ₹1,250 apiece on the BSE

    IndusInd Bank shares jump to 52-week high after CEO's reappointment

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    IndusInd Bank (Photo: Company website)

    1 min read . Updated: 16 Sep 2022, 12:09 PM IST

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    Shares of IndusInd Bank surged more than 4% to hit a 52-week high of ₹1,250 apiece on the BSE

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    IndusInd Bank gains 2% on strong outlook; stock up 53% in 3 months

    Analysts expect that the bank's credit growth and profitability is expected to be strong on account of revived demand in MFI and vehicle finance.

    IndusInd Bank gains 2% on strong outlook; stock up 53% in 3 months

    IndusInd Bank gains 2% on strong outlook; stock up 53% in 3 months Analysts expect that the bank's credit growth and profitability is expected to be strong on account of revived demand in MFI and vehicle finance.

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    Buzzing stocks | IndusInd Bank | Stock to watch

    Deepak Korgoankar  |  Mumbai

    Last Updated at September 16, 2022 11:45 IST

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    INDUSIND BANK LTD

    STOCK PRICE - CLICK HERE FOR MORE

    BSE 1,226.00-1.50 (-0.12%)

    NSE 1,225.75-1.60 (-0.13%)

    BSE NSE 12:01 15:02 1,210 1,220 1,230 1,240 1,250 1,260 12:01 2Y 1Y 6M 1M 5D 1D

    ALSO READ

    Strong Q1 builds case for IndusInd's re-rating; 50% upside likely: Analysts

    Credit Suisse retains 'outperform' on IndusInd Bk on robust growth outlook

    IndusInd Bank Q1 net up 64% to Rs 1,603 cr on surge in net interest income

    Delhi High Court asks RBI to look into plea against IndusInd Bank

    ALSO READ Strong Q1 builds case for IndusInd's re-rating; 50% upside likely: Analysts Credit Suisse retains 'outperform' on IndusInd Bk on robust growth outlook IndusInd Bank Q1 net up 64% to Rs 1,603 cr on surge in net interest income Delhi High Court asks RBI to look into plea against IndusInd Bank IndusInd Bank standalone net jumps 55% to Rs 1,361 cr, gross NPAs dip

    Shares of IndusInd Bank hit an over 10-month high of Rs 1,238.15 on the BSE in Friday's intra-day trade, in an otherwise weak market, on hopes of bright outlook. The stock of the private lender traded at its highest level since November 2, 2021 and had hit a 52-week high of Rs 1,241.85 on October 28, 2021.

    At 10:01 am; IndusInd Bank quoted 2 per cent higher at Rs 1,217, as compared to 1.3 per cent decline in the S&P BSE Sensex. In the past three months, it has zoomed 53 per cent, as against 15 per cent rise in the benchmark index.

    Meanwhile on Thursday, IndusInd Bank approved the re-appointment of Sumant Kathpalia as managing director and chief executive officer for three years with effect from March 24, 2023. READ MORE

    In the April-June quarter (Q1FY23), IndusInd Bank reported 64.4 per cent year-on-year (YoY) rise in its standalone net profit to Rs 1,603 crore, led by healthy increase in net interest income (NII). NII was up 15.8 per cent YoY and 3.5 per cent quarter-on-quarter (QoQ) to Rs 4,125 crore, driven by robust growth in business.

    Besides, gross non-performing assets (GNPA) and net non-performing assets (NNPA) inched up slightly by 8 bps and 3 bps QoQ to 2.35 per cent and 0.67 per cent, respectively. Meanwhile, net interest margin (NIM) improved to 4.21 per cent in Q1FY23 from 4.06 per cent in Q1FY22.

    That apart, analysts remain bullish on prospects of loan growth from the farm sector due to good monsoon trends. Loan growth was witnessed across products. While vehicle finance segment witnessed highest quarterly disbursements during Q1FY23, CV, UV, cars, and tractor segments, too, saw robust disbursements. However, disbursements were muted in 2-wheeler and 3-wheeler segment.

    "The focus on new growth engines and investment in retail franchise to aid growth. The gradual retaliation of liabilities will gradually support margin trajectory. Healthy provision buffer of 3.4 per cent is expected to keep credit cost at normalised levels. Though opex is likely to remain elevated, steady NIM and healthy collection will aid RoA," analysts at ICICI Securities said.

    Analysts at Anand Rathi, on the other hand, believe that the bank's credit growth and profitability is expected to be strong on account of revived demand in MFI and vehicle finance. They also forsee bright corporate outlook on the government’s infra push, sturdy balance sheet, and strong liquidity and capitalisation.

    “In the rising interest-rate context, NIM is expected to hold above 4 per cent. We expect higher margins and moderation in operating expenses to keep operating profits strong. On the good operating performance, a pick-up in business growth and the benign credit-cost cycle, profitability is expected to be robust,” the brokerage firm said, retaining 'positive' view on IndusInd Bank, with a revised target price of Rs 1,300 per share.

    Technical ViewBias: Positive

    Support: Rs 1,215, Rs 1,205

    Resistance: Rs 1,330

    IndusInd Bank has been trading with a positive bias since late July 2022, when the stock's 20-DMA (Daily Moving Average) crossed the 50-DMA.

    Further, the stock has been holding above the higher-end of the Bollinger Band on the daily chart since the last four trading sessions. This has aided the positive sentiment at the counter. The bias is likely to remain positive as long as the stock holds above Rs 1,215.

    So far this week, the stock is also held above the higher-end of the Bollinger Band on the weekly chart, which stands at Rs 1,206. A weekly close above the same should augur well for the stock.

    On the upside, the stock seems headed towards Rs 1,330-level, which is the trend line resistance on the monthly chart.

    The momentum oscillators are also in favour of the bulls for now. However, in case, the stock breaks the support at Rs 1,215 and Rs 1,206, a dip to Rs 1,160 seems possible.

    (With inputs from Rex Cano)

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    IndusInd Bank Ltd.

    Sector: Banks - Private Sector

    Portfolio Watchlist Messages SMS Alert

    , . - + 0 1 2 3 4 5 6 7 8 9

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    , . - + 0 1 2 3 4 5 6 7 8 9

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    -1.60 (-0.13%)

    As on 19 Sep, 2022 | 15:59

    Trade Day Range 1,218.00 1,256.00 L H 52 Week Range 763.20 1,256.00 L H Volume 6,074,889 * i

    * BSE Market Depth (19 Sep 2022)

    BUY SELL

    QTY PRICE PRICE QTY

    87 1228.00 1229.00 55

    1 1227.50 1229.95 50

    2 1227.20 1230.00 184

    50 1226.20 1231.80 250

    12 1226.00 1232.00 2

    2542.00 TOTAL TOTAL 24751.00

    Bid / Ask 1227.20 / 1226.00 Advance Chart 1,226.00 -1.50 (-0.12%)

    As on 19 Sep, 2022 | 04:01

    Day Range 1218.05 1255.80 L H 52 Week Range 763.75 1255.80 L H Volume 424,209 * i

    * BSE Market Depth (19 Sep 2022)

    BUY SELL

    QTY PRICE PRICE QTY

    87 1228.00 1229.00 55

    1 1227.50 1229.95 50

    2 1227.20 1230.00 184

    50 1226.20 1231.80 250

    12 1226.00 1232.00 2

    2542.00 TOTAL TOTAL 24751.00

    Bid / Ask 1227.20 / 1226.00 Advance Chart -- -- (--%) As on -- Day Range -- -- L H

    Open Interest Analysis

    Long Unwinding (OI , PRICE )

    See Historical Trend

    Volume -- Bid / Ask 1227.20 / 1226.00 Advance Chart -- -- (--%) As on -- Day Range -- -- L H Moneyness -- Volume -- Bid / Ask 1227.20 / 1226.00 Advance Chart IndusInd Bank 1,225.75 -1.60(-0.13%)

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    Strengths (10) Company with high TTM EPS GrowthWeaknesses (6) MFs decreased their shareholding last quarterOpportunities (5) Companies with current TTM PE Ratio less than 3 Year, 5 Year and 10 Year PEThreats (1) Insiders sold stocksNote :Financial Information is based on consolidated numbers.

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    Note :Financial Information is based on consolidated numbers.

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    Note :Financial Information is based on consolidated numbers.

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    Note :Financial Information is based on consolidated numbers.

    Powered by MC Essentials 56% Pass MC Technicals i

    This represents current trend.Click here for disclaimer.

    Trend MC Insights Mid-range performer

    Stock with medium financial performance with average price momentum and val

    Financials Ownerships Industry Comparison Others Powered by Overview Chart MC Insights MC Technicals Price & Volume News Forum Research Deals Insider Corp Action Financials Shareholding Peers About

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    MC Insights

    Mid-range performer

    Stock with medium financial performance with average price momentum and val

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    Price

    2.41% away from 52 week high

    Financials Piotroski Score i indicates Industry Comparison

    Market Cap - High in industry

    Shareholding Pattern

    Promoters pledge remained unchanged at 45.48% of holdings in Jun 2022 qtr.

    BIG SHARK INVESTORS

    Top Holders ICICI Group2.92%

    Bridge India Fund2.69%

    Government Pension Fund Global1.83%

    Investor Presentation

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    Daily Weekly Monthly TECHNICAL RATING i

    This represents current trend.

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    Trend NEUTRAL See Detail Historical Rating Moving Averages --

    Technical Indicators --

    Moving Averages Crossovers --

    Pivot levels

    R1 1,248.50 Pivot

    1,233.25 S1 1,210.50

    R2 1,271.25 S2 1,195.25R3 1,286.50 S3 1,172.50Note : Support and Resistance level for the day, calculated based on price range of the previous trading day.

    Moving Averages Days 5 1,205.70 10 1,160.96 20 1,124.31 50 1,033.53 100 958.32

    स्रोत : www.moneycontrol.com

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