At least one-third of the 45 analysts that have coverage on IndusInd Bank now have a "sell" recommendation on the stock. This, after the Mumbai-based private lender reported its first net loss in nearly two decades for the March quarter.
Brokerage firm UBS has a "sell" rating on the stock with a price target of ₹600. While it said that the stock is not inexpensive at current levels, but lack of strategic direction, lower balance sheet growth, uncertainty on margins is likely to result in de-rating for the stock.
HSBC has downgraded IndusInd Bank to "reduce" and has cut its price target to ₹660. It said that IndusInd Bank has been pushed back to the pre-2009 era with no clarity yet on the rebuilding process.
As a result, the brokerage has cut IndusInd Bank's Earnings per Share (EPS) estimates by 41% to 43% for financial year 2026 and 2027, as the management has made one-off adjustments to correct accounting discrepancies.
CLSA has maintained its "hold" recommendation on IndusInd Bank with a reduced price target to ₹725.
On the earnings call, the management mentioned that the RBI has asked for the MD & CEO candidate names by June 30.
As a result, the brokerage has cut financial year 2026 and 2027 net profit estimates by 42% and 28% respectively.
Nuvama has also maintained its "reduce" recommendation on IndusInd Bank and cut its price target to ₹600.
The brokerage said that the visibility for FY26 is low because it is unclear as to what will happen to retail deposits after disclosures made on repeated discrepancies.
The need for the bank to maintain high liquidity will impact its Net Interest Margins (NIMs).
Out of the 45 analysts that have coverage on IndusInd Bank, 14 of them have a "buy" rating, 16 say "hold", while 15 others have a "sell" recommendation on the stock.
Shares of IndusInd Bank ended 2% lower on Wednesday ahead of the results announcement. The stock has declined 3% in the last one month.
Brokerage firm UBS has a "sell" rating on the stock with a price target of ₹600. While it said that the stock is not inexpensive at current levels, but lack of strategic direction, lower balance sheet growth, uncertainty on margins is likely to result in de-rating for the stock.
HSBC has downgraded IndusInd Bank to "reduce" and has cut its price target to ₹660. It said that IndusInd Bank has been pushed back to the pre-2009 era with no clarity yet on the rebuilding process.
As a result, the brokerage has cut IndusInd Bank's Earnings per Share (EPS) estimates by 41% to 43% for financial year 2026 and 2027, as the management has made one-off adjustments to correct accounting discrepancies.
CLSA has maintained its "hold" recommendation on IndusInd Bank with a reduced price target to ₹725.
On the earnings call, the management mentioned that the RBI has asked for the MD & CEO candidate names by June 30.
As a result, the brokerage has cut financial year 2026 and 2027 net profit estimates by 42% and 28% respectively.
Nuvama has also maintained its "reduce" recommendation on IndusInd Bank and cut its price target to ₹600.
The brokerage said that the visibility for FY26 is low because it is unclear as to what will happen to retail deposits after disclosures made on repeated discrepancies.
The need for the bank to maintain high liquidity will impact its Net Interest Margins (NIMs).
Out of the 45 analysts that have coverage on IndusInd Bank, 14 of them have a "buy" rating, 16 say "hold", while 15 others have a "sell" recommendation on the stock.
Shares of IndusInd Bank ended 2% lower on Wednesday ahead of the results announcement. The stock has declined 3% in the last one month.
First Published: May 22, 2025 8:02 AM IST
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