IndusInd Bank Upgrade Sparks 10% Upside

  Published 9 months ago

IndusInd Bank shares rise 2.6% after Morgan Stanley upgrades to equal weight, raising the target price now.

  • Morgan Stanley lifts price target to 785 rupees, implying ten percent upside from the current level.
  • Bank suffered $230 million loss from derivative misaccounting, prompting the CEO and deputy resignations in April.
  • New management expected to clean balance sheet, improve coverage ratios, and support recovery through fiscal 2026.

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