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Sell IndusInd Bank, target price Rs 1,040: Mandar Jamsandekar

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Mandar Jamsandekar of Precision Technicals has a sell call on IndusInd Bank with a target price of Rs 1,040.

The current market price of IndusInd Bank is Rs 1,200.

Mandar Jamsandekar recommended to keep a stop loss at Rs 1,280. IndusInd Bank key products/revenue segments include interest - discount on advances - bills which contributed Rs 18,256.68 crore to sales value (82.01 per cent of total sales), income from investment which contributed Rs 3,677.34 crore to sales value (16.51 per cent of total sales), interest which contributed Rs 225.10 crore to sales value (1.01 per cent of total sales) and interest on balances with RBI and other inter-bank funds which contributed Rs 102.03 crore to sales value (0.45 per cent of total sales) for the year ending 31 March, 2019.

The bank has reported gross non-performing assets (gross NPAs) of Rs 4,370.20 crore and net non-performing assets (net NPAs) of Rs 2,202.57 crore.

For the quarter ended 30-09-2019, the company has reported a consolidated interest income of Rs 5,948.67 crore, up 3.39 per cent from last quarter interest income of Rs 5,753.84 crore and up 33.61 per cent from last year same quarter interest income of Rs 4,452.10 crore.

The bank has reported a net profit after tax of Rs 1,400.95 crore in latest quarter.




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