IndusInd Bank Upgraded to Buy by Nomura, Eyes Recovery

  Published 11 months ago

IndusInd Bank shares rise 5.3% after Nomura upgrades to "buy", cites improved governance, lower credit costs, and recovery from accounting issues.

  • Nomura raises target price to 1,050 rupees, expects 1.1% ROA and 9.6% ROE by FY28.
  • Bank addresses 53 bln rupees one-time hit, aims for cleaner financials and new leadership.
  • Current valuations and RBI support are seen as catalysts for investor confidence.

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