Fri Oct 25 09:59:47 UTC 2024: Here’s a summary of the news article about IndusInd Bank:

1. **Stock Performance**: IndusInd Bank’s shares dropped nearly 20% on October 25, following disappointing Q2 results, hitting a new 52-week low of 1025. The stock closed at 1278 the previous day and has a 52-week high of 1694.

2. **Financial Results**:
– **Net Profit**: The bank reported a 39% year-on-year decline in net profit, down to ₹1325 crore.
– **Net Interest Income**: This increased by 5.3% to ₹5347 crore.
– **Deposits and Loans**: Deposits grew by 15% to ₹4.12 lakh crore, and loans increased by 13% to ₹3.57 lakh crore.

3. **Asset Quality**:
– **Gross NPA (Non-Performing Assets)**: Rose to 2.11% from 1.93%.
– **Net NPA**: Increased to 0.64% from 0.57%.

4. **Brokerage Ratings**:
– Various brokerages remain bullish on the stock but have reduced their price targets:
– **Macquarie**: Target lowered to ₹1690, maintaining an outperform rating.
– **CLSA**: Target reduced from ₹1800 to ₹1600, maintaining outperform rating.
– **Jefferies**: Target cut from ₹1750 to ₹1470, while maintaining a buy rating.
– **CITI**: Target lowered from ₹2010 to ₹1630, maintaining buy rating.
– **Goldman Sachs**: Target reduced from ₹1624 to ₹1430, retaining buy rating.
– **HSBC**: Target decreased from ₹1770 to ₹1510, maintaining buy recommendation.

5. **Market Capitalization**: The bank’s market cap is approximately ₹80,859 crore.

6. **Branch Network**: As of September 30, the bank has 3040 branches and 3011 ATMs.

**Disclaimer**: The investment advice provided is from brokerage firms and not the news outlet’s views. It’s advised to consult with an advisor before investing.

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