IndusInd Bank Q4 update: IndusInd Bank shares on Friday, April 5 edged lower on Dalal Street, a day after the private sector lender posted a 37.9 per cent decline in the current account and saving deposits (CASA) of the total liabilities during the March quarter.

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The IndusInd Bank stock declined nearly one per cent to the day's low of Rs 1,530.05 on the NSE, extending the declining trend for the third session.

IndusInd Bank Q4 update

On Thursday post market hours, IndusInd Bank posted an 18 per cent growth in advances at Rs 3,42,857 crore during the March quarter of its Q4 update.

IndusInd Bank's net advances stood at Rs 2,89,924 crore at the end of the fourth quarter of the last financial year, the bank said in a regulatory filing.

The bank's deposits also rose 14 per cent to Rs 3,84,789 crore in the quarter under review, from Rs 3,36,438 crore in the same period a year ago, it said. IndusInd Bank's low-cost deposits -- current account and saving deposits (CASA) -- declined to 37.9 per cent as against 40.1 per cent of the total liabilities during the quarter. Read more

IndusInd Bank share price target: Here's how brokerages view the bank stock

Jefferies has maintained a buy call on the bank stock with a target price of Rs 2,070, implying an upside of 34 per cent from current levels.

Morgan Stanley has retained an overweight call on the counter with a target of Rs 1,925. The global brokerage highlighted the following points in its note:

-Loan growth improved (5 per cent vs. 4 per cent QoQ last quarter)
-Deposit growth was 4 per cent QoQ vs. 3 per cent last quarter (14 per cent YoY vs. 13 per cent).
-Retail deposits growth moderated (2.5 per cent QoQ vs. 5 per cent), partly owing to 1-time outflow, adj. for which, growth was 4 per cent QoQ (20 per cent YoY).

Citi too has continued with a buy call on the scrip with a target of Rs 2,010 on IndusInd Bank.

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