IndusInd Bank share price to go up, give 26 pct returns in one year, say experts

IndusInd Bank share price has surged over Rs 1500 per stock levels in the cash segment and if we go by the stock market experts, it can first hit Rs 1,6000 [er stock levels after breaking the resistance at around Rs 1,510 and then surge up to Rs 1,904 per shares in long-term. The stock can hit that mark over the next 12 months. 

Speaking on the IndusInd share price Darpin Shah, Analyst at HDFC Securities said, "The (IndusInd) bank’s various tech initiatives are likely to contribute to B/S growth, higher granularity and profitability. However, our estimates are unchanged as incremental benefits will be discernible only over time. A high yielding fixed-rate book will contribute to robust RoAAs (1.94% over FY20-22E). Management transition and asset quality are near term risks." On his suggestion to the share market investors in regard to the IndusInd Bank share price Darpin Shah said, "We recommend buy IndusInd Bank for the target of Rs 1,904 in three to four quarters."

See Zee Business Live TV streaming below:

Expecting further bullishness into the IndusInd counter Vishvesh Chauhan, Head Derivatives at Monarch Networth Capital said, "If we look at the fundamentals, IndusInd Bank share price is poised for upside swing for Rs 1,600 in one month."

Simi Bhaumik, a SEBI registered technical equity analyst said, "IndusInd Bank shares have a little resistance at Rs 1,510. Once it clears this resistance it can show Rs 1,540 to Rs 1,550 per stock levels in the next two-three trading sessions. I would recommend stock market investors to buy IndusInd Bank shares at around Rs 1495 to Rs 1500 levels for the target of Rs 1,540 to Rs 1,550 in immediate short-term." However, Bhaumik advised traders to maintain the stop loss at Rs 1,470 levels.