IndusInd Bank Ltd (INDUSINDBK)

IndusInd Subsidiary Gets Approval for RCap Acquisition - 12 May, 2024

IndusInd Bank subsidiary, IndusInd International Holdings Ltd (IIHL), has received approval from the National Company Law Tribunal (NCLT) to acquire Reliance Capital's life, general, and health insurance businesses. IIHL will establish a subsidiary in Mauritius, which will hold 51%, while other group companies will collectively hold the remaining 49%.

IndusInd-Led Consortium Gets Approval for Reliance Capital Acquisition - 11 May, 2024

IndusInd International Holdings Limited and its Indian associate companies have received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to acquire Reliance Capital's insurance arms, subject to regulatory clearances.

Mixed Day for IndusInd Bank Stock - 09 May, 2024

IndusInd Bank had a mixed day on May 9th, gaining in the past month but also being among the top losers in the Nifty Bank index due to weak global cues.

Private Lenders to Increase IT Spending for Digital Transactions - 08 May, 2024

ICICI Bank, Axis Bank, Yes Bank, and Kotak Mahindra Bank have announced plans to increase IT spending to deal with rising digital activity, including transactions via India's Unified Payments Interface. IndusInd Bank CEO Sumant Kathpalia has also stated that the bank will continue to invest in IT-related expenses.

IndusInd Bank Receives Recommendation and Proposes Changes to Corporate Structure - 07 May, 2024

Prabhudas Lilladher recommends IndusInd Bank with a target price of Rs 1530.00, projecting a potential upside of 4.50%. Meanwhile, IndusInd International Holdings has proposed changes to the corporate structure in its resolution plan for bankrupt Reliance Capital and is seeking RBI approval.

Hinduja Group's IIHL Plans Stake Hike in IndusInd Bank; Reports Q4FY24 Results - 06 May, 2024

IndusInd Bank's promoter company, IIHL, plans to increase its stake in the bank from 16.4% to 26% in multiple tranches. The bank reported a YoY rise of 15% in Q4FY24 consolidated net profit and closed 0.9% higher at ₹1497 apiece. Analysts retain buy rating with target price of Rs 1,800-1,900.

IIHL Plans to Increase Stake in IndusInd Bank - 05 May, 2024

Hinduja group's IIHL, the promoter of IndusInd Bank, plans to raise its stake from 15% to 26% and aims for a $50 billion valuation by 2030. The investment arm will raise capital through the bank or market, with most of the gains expected from IndusInd Bank shares.

IndusInd Bank Concludes USD Swaption Deal - 03 May, 2024

IndusInd Bank has concluded a USD swaption deal after the RBI permitted lenders to offer such products. The central bank expanded the range of products banks can offer to eligible corporates, which included swaptions.

KR Choksey Recommends Buying IndusInd Bank Shares with Target Price of Rs 1850 - 02 May, 2024

KR Choksey has recommended buying shares of IndusInd Bank, assigning a P/B multiple of 1.8x to the FY26E adj. BVPS of INR 1,027.7 per share and revising the target price to INR 1,850 per share. The bank's Q4FY24 results were in-line with estimates, with minor deviations of ~2.0% headline numbers. KR Choksey has maintained a BUY rating on the shares of IndusInd Bank.

IndusInd Bank Reports Healthy Business Growth - 29 Apr, 2024

IndusInd Bank reports strong Q4 results with healthy business growth, reduced slippages, and ample capital cushion. LKP Securities retains BUY rating with a price target of Rs 1,749.

IndusInd International Holdings Urged to Expedite Reliance Capital Resolution Plan - 28 Apr, 2024

Lenders of debt-ridden Reliance Capital have asked IndusInd International Holdings to expedite the process of obtaining necessary regulatory approvals and stick to the resolution plan deadline of May 27. The Hinduja Group company has to make an upfront payment of ₹9,650 crore to the Reliance Capital lenders. Concerns have been raised over the proposed corporate structure for the transfer of RCAP's insurance businesses to IndusInd International Holdings.

IndusInd Bank Posts Strong Q4 Results Despite Brokerage Cuts - 26 Apr, 2024

IndusInd Bank reports a 15% YoY rise in Q4 net profit to Rs 2,349 crore, but brokerages cut EPS estimates due to increased operating expenses. The bank aims to maintain its NIM between 4.2-4.3%. Overall advances rose 18% YoY to Rs 3.43 trillion as on March-end. Low-cost CASA ratio declined to 38% QoQ. Asset quality remained stable. Motilal Oswal recommends buy rating with a target price of Rs 1850.00.

IndusInd Bank Posts Strong Q4 Earnings - 25 Apr, 2024

IndusInd Bank reports a 15% YoY rise in Q4 net profit to Rs 2,349 crore, driven by growth in advances and improved yield on assets. The bank's gross non-performing asset (NPA) ratio stood at 1.92%, down from 1.98% as of December 31, 2023.

IndusInd Bank Expects Strong Q4 Results; Partners with Invesco - 24 Apr, 2024

IndusInd Bank is expected to report a strong Q4FY24 performance, with analysts predicting an 11% YoY growth in net profit. The bank's loan growth is set to outpace deposit trends, while its margins are expected to remain stable among peers. Additionally, IndusInd International Holdings has announced a partnership with Invesco, acquiring a 60% stake in Invesco Asset Management India.

IndusInd Bank Executes Programmable CBDC Pilot - 23 Apr, 2024

IndusInd Bank becomes the first bank to execute RBI's programmable CBDC pilot, collaborating with Circularity Innovation Hub India. The project aims to benefit farmers by promoting Circularity Credits from recycling agricultural waste.

IndusInd Bank Pilots Programmable Digital Rupee Transactions - 22 Apr, 2024

IndusInd Bank has successfully executed the Reserve Bank of India's programmable central bank digital currency (CBDC) pilot in collaboration with Circularity Innovation Hub India. The private lender is leveraging the programmable version of the RBI's digital currency to enable farmers to exchange their carbon credits directly for e-rupees, marking a pioneering step in incorporating digital currency solutions into agricultural transactions.