IndusInd Bank shares rise as SBI MF to buy 9.9% stake
The RBI on October 11 gave approval to SBI Mutual Fund to acquire 9.99% of the paid-up share capital in IndusInd Bank.
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IndusInd Bank shares jump 4% on robust Q1; analysts see up to 22% upside
IndusInd Bank reported 32% YoY rise in net profit in Q1 FY24, driven by strong net interest income (NII) and dip in provisions.
IndusInd Bank Q1 profit surges 30% to ₹2,124 cr; NII up 18%
IndusInd Bank's gross NPAs were 1.94% of gross advances as of Q1 FY24, and net NPAs accounted for 0.58% of net advances; deposits up 15% YoY
Should you buy, sell or hold IndusInd Bank shares post Q4?
IndusInd Bank has an average target of ₹1,344.47 from 18 brokers, an upside potential of over 19% from the current market price.
Why IndusInd Bank shares are trading higher today
The stock price got a boost amid a report that Hinduja Group may increase its stake in IndusInd Bank to 26% from the existing 16.51%.
