Shillong, April 25: Since early trades on Tuesday, IndusInd Bank shares have been rising following the presentation of Q4FY23 earnings yesterday.
Within a short period of time following today’s stock market opening bell, the price of IndusInd shares rose to an intraday high of Rs 1,127.60 per share on the NSE.
Stock market experts claim that IndusInd Bank delivered respectable fourth quarter earnings for the fiscal year 2022–2023, and the market is responding to the private lender’s strong quarterly data. According to them, the banking stock appears to be on the upswing and could eventually reach levels of Rs 1600 per share.
A respectable performance was given by IndusInd Bank in the fourth quarter, with positive momentum evident in all areas of its operations, including the retail and corporate segments. Along with stronger indicators for asset quality, the bank’s main KPIs, including NII, RoA, and RoE, also demonstrated an improving trend.
Going forward, the business would probably increase its market share and control risks by diversifying further. The company is expected to command a higher valuation multiple in the future thanks to a well-capitalized balance sheet, increased collection efficiency across business segments (with vehicle and MFI being the key), lower credit costs, conservative provisioning, and a strong focus on risk management framework.