Research ReportsIndusInd Bank Q4 Results Review: IDBI Capital Downgrades To 'Sell' On Loss Reported Led By Discrepancies
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IndusInd Bank Q4 Results Review: IDBI Capital Downgrades To 'Sell' On Loss Reported Led By Discrepancies
IDBI Capital downgrades IndusInd Bank to “Sell” rating with a new target price of Rs 680 at P/ABV of 0.75x FY27E as management appointments are yet to be finalised by RBI.
IndusInd Bank's net interest margins declined to lowest level in last decade to 2.25% led by interest reversal of Rs 6.7 billion, while NIMs would have been 3.5% if adjusted for one-offs.
(Photo: NDTV Profit)
IndusInd Bank's top management has resigned post discrepancies found in accounting for derivative loss as well interest income in MFI portfolio. Will watch out for change in strategy post new management approval by RBI.