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In response to these developments, HDFC Securities has revised its financial year 2024 and 2025 estimates for IIB upwards by 12%. This decision has been driven by the bank’s strong loan growth. Despite this positive adjustment, HDFC Securities continues to maintain a ‘REDUCE’ rating for IIB. The target price for the bank’s shares has been set at INR 1,280 ($1 = INR 83.2).
To mitigate potential risks, IndusInd Bank is planning to enhance its deposit mobilisation and strengthen its provisioning buffer. This strategy is expected to provide a safeguard against any unforeseen financial challenges that may arise due to the bank’s ongoing digital transformation and the current economic climate.
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