IndusInd Bank Share Price Falls To 29-Month Low After UBS Cuts Target Price, EPS Estimates
UBS cut its target price and earnings per share estimates for IndusInd Bank, as it factors in higher credit costs for the lender.

IndusInd Bank Ltd.'s share price fell to hit its lowest in more than two years after UBS cut its target price and earnings per share estimates for the stock, as it factors in higher credit costs for the lender.
While maintaining a 'neutral' rating, it has lowered its target to Rs 1,150 from Rs 1,350 earlier, implying 15.2% upside.
"Following up on our earlier study on unsecured loans, we observe that select segments, namely small borrowers (within MSME), commercial vehicles loans and business loans are witnessing increased risk of non-performing loans," UBS said.
HDFC Bank Ltd., ICICI Bank Ltd. and Federal Bank are the brokerage's top picks in the sector.
IndusInd Bank Share Price Today

IndusInd Bank share price fell as much as 3.25% intraday, the lowest level since July 27, 2022, before paring loss to trade 1.8% lower at Rs 980.50 apiece, as of 12:22 p.m. This compares to a 0.2% advance in the NSE Nifty 50.
The stock has fallen 38.6% on a year-to-date basis. Total traded volume so far in the day stood at 0.7 times its 30-day average. The relative strength index was at 30.4.
Of the 50 analysts tracking the company, 37 maintain a 'buy' rating, seven recommend a 'hold' and 11 suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 13.9%.