NEW DELHI: Shares of IndusInd BankNSE 1.58 % climbed 2 per cent in morning trade on Thursday after Deutsche Bank maintained 'buy' recommendation on the stock with a target price of Rs 1,900.
Deutsche said the Bharat Financial-IndusInd Bank merger benefits will play out and the fears on nonperforming loan (NPL) are misplaced as the stress book is gradually declining.
As per Deutsche, the management of IndusInd Bank expects the trends in asset quality to return to normal levels.
Deutsche finds the stock attractive at 2.2 times FY21E price to book value (P/BV)
Shares of IndusInd traded 1.44 per cent up at Rs 1,455.95 around 9:55 am on BSE
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