Yes Bank and IndusInd Bank are looking to acquire the Indian retail assets of Royal Bank of Scotland (RBS), according to reports.
The two banks are negotiating terms to acquire the Indian retail assets of the Scottish bank. Some people closer to the matter indicated that the two banks have expressed interest but there is no certainty that the deal will be finalized.
Private sector lender IndusInd Bank on Wednesday reported a jump of 23.5 per cent in net interest income (NNI) for the three months ended September 30, 2012.
Mumbai-based IndusInd Bank announced that its net interest income soared to Rs. 518 crore in the second quarter of 2012, as compared with net interest income Rs. 419 crore in the corresponding period of previous year.
Several major brokerage houses have given a buy call for private banking major IndusInd Bank. Nirmal Bang has given buy call with target price of Rs 413 in October research report. The bank has announced results as per analyst expectations and stock closed at Rs 363 today.
Prabhudas Lilladher gave buy rating to the stock with target price of Rs 400. The report expressed satisfaction over asset quality of the bank and lower credit cost during the first half of financial year.
Kotak Mahindra Bank will soon be announcing quarterly results. The fast growing private bank is expected to declare positive results as per estimates of recent report by Prabhudas Lilladher. Kotak Mahindra Bank is currently trading with a P/E multiple of 41 and is hovering around its 52-week high of 612 on NSE.
The IndusInd Bank has reported better than expected results in the first quarter till June 30, 2012, beginning the season of results for the sector.
IndusInd Bank reports an increase of 31 per cent in net profit at Rs 236 crore in the first quarter compared to Rs 180 crore in the same quarter of the previous year. The bank said that the higher than expected growth comes mainly due to strong growth in `other income' and improved loan book quality.
In a commendable attempt, Memorandum of Understanding (MoU) has been signed between the Indian Army and IndusInd Bank Ltd for opening salary accounts for army personnel of all ranks.
The sole motto behind this step was to refine the salary administration system of the Indian Army in addition to provide improved customer convenience and satisfaction. With this agreement, IndusInd Bank will have to escalate its number of branches by 400 by March 2014 to sustain such huge expansion of business operation.
Technical analyst Fayeza Hafiza of Intime Spectrum Securities has maintained 'buy' rating on IndusInd Bank Limited stock to attain a target of Rs 305-310
According to analyst, the said target can be achieved within a period of 3 to 6 months.
The stock of the bank, on April 25, closed at Rs 275.75 on the Bombay Stock Exchange (BSE).
Current EPS & P/E ratio stood at 12.40 and 21.94 respectively.
The share price has seen a 52-week high of Rs 309.30 and a low of Rs 180.30 on BSE.
Technical Analyst Anu Jain has maintained 'buy' rating on IndusInd Bank Limited stock with a target of Rs 270.
Mr. Jain said that the stock can be purchased on dips with a stop loss of Rs 247.50.
The stock of the bank, on March 23, closed at Rs 253.95 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 309.30 and a low of Rs 165.40 on BSE.
Current EPS & P/E ratio stood at 10.83 and 23.74 respectively.
Technical analyst D Prasad has maintained 'buy' rating on IndusInd Bank Limited stock with a target of Rs 264.
According to analyst, the investors can buy the stock above Rs 250 with a stop loss of Rs 244.
The stock of the company, on March 15, closed at Rs 244.80 on the Bombay Stock Exchange (BSE).
Current EPS & P/E ratio stood at 10.83 and 22.90 respectively.
The share price has seen a 52-week high of Rs 309.30 and a low of Rs 159.50 on BSE.
Rakesh Gandhi, Senior Technical Analyst, LKP has maintained 'buy' rating on IndusInd Bank Limited stock with a stop loss of Rs 220.
The stock of the bank, on March 07, marked its closure at Rs 241.45 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 309.30 and a low of Rs 155.95 on BSE.
Current EPS & P/E ratio stood at 10.83 and 22.69 respectively.
Technical analyst Sanjay Surekha has maintained 'buy' rating on IndusInd Bank Limited with a short term target of Rs 300.
The analyst said that the stock can be purchased with a stop loss of Rs 250.
The stock of the bank, on December 14, closed at Rs 267.75 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 309.30 and a low of Rs 134.50 on BSE.
Current EPS & P/E ratio stood at 9.49 and 27.84 respectively.
IndusInd Bank has named Anil Ramachandran as its Head Credit Cards Business.
IndusInd Bank’s outcome for the month of September 2010 quarter point out that the bank is drawing near with its superior colleagues in the industry in provisos of development, asset quality and margins. The bank has depicted a jagged spin in its show in the precedent two years.
A combination of years ago, the bank was jostling with its asset excellence as the net non-performing assets (NPA) positions as lofty as 2.2%. Though, it has time after time enhanced its numbers ever since then. Net NPAs have at the present entered down to 0.4%.
Rajesh Agarwal of Eastern Financiers Ltd is bullish on IndusInd Bank Ltd and has recommended 'buy' rating on the stock.
According to Agarwal, the interested investors can buy the stock on dips for gains of 20-25%.
The stock of the banking institution, on Oct 08, closed at Rs 279.45 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 288 and a low of Rs 113.90 on BSE.
Current EPS & P/E ratio stood at 9.31 and 30.44 respectively.
As per reports, Indusind Bank Ltd will declared its results on October 11, 2010.
Stock market analyst Fayeza Hafiza of Intime Spectrum Securities has maintained hold rating on IndusInd Bank Ltd stock to achieve a target that lies between Rs 255-260.
The stock of the company, on Sep 07, closed at Rs 599.90 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 231.80 and a low of Rs 100 on BSE.
Current EPS & P/E ratio stood at 9.31 and 25.74 respectively.
Tata Motors inks a deal with IndusInd Bank to offer financing facilities to its customers.
The bank inked a memorandum of understanding (MoU) with the company.
With a view to give more choices to the Indian consumer, Toyota Kirloskar Motor Pvt. Ltd (TKM) has recently joined hands with IndusInd Bank. While the move is expected to extend car finance to their prospective customers, the deal will make IBL will be one of the preferred financiers for the entire range of vehicles sold by Toyota Kirloskar Motor Private Limited.
In fact, according to the terms of the deal, both IndusInd Bank and Toyota dealers will promote various finance options to its customers through all branches and outlets of IBL Bank.
IndusInd Bank said on Friday that it has witnessed a 37 per cent growth in its profit. This is for the first quarter of this year ending June 30. In real terms, the profit was of Rs.118.55 crore.
As per the financial declared by the private bank, the total income during the period increased from Rs 801.58 crore that it reported last year to become Rs 801.58 crore during the first quarter.
Income earned from interest was Rs 771.54 crore. This is 23 per cent higher than during the same period last year.
Induslnd Bank is eying at a 25-30% growth in loans for the year 2010-11. The private sector lender is expecting to reach the rising demand of the market. The demand in corporate and vehicle finance sectors has been the most prospective area for the Bank.
Managing Director and Chief Executive Officer of IndusInd Bank, Mr.Romesh Sobti has informed that the bank’s loan book comprises of corporate loans and vehicle loans. Corporate loans comprises of 60% of the total loans while rest 40% are from vehicle loan section. He has said that the bank is growing continuously since the last few quarters and he anticipates that this quarter will produce even more impressive result.
Riding strong on the back of the improving consumer sentiment, IndusInd bank has recently posted one of its best results in the Q4 in the FY 2009-10. The private sector entity has posted a rise of a whopping 94% in the last quarter standing at a mind-boggling 97.96 crore which was way above the Rs 50.52 crore banked during the corresponding quarter of the previous year.
The rise in the net profits in the Q4 was mainly boosted by the interest income which stood at the 272.79 crore level and the core fee income at Rs 112.21 crore.
Indusind Bank was incorporated on January and obtained Certificate of Commencement of Business in February 1994. The bank was promoted by IndusInd Enterprises and Finance Ltd. (IEFL) and five Mauritius based companies viz. IndusInd International Holdings Ltd. (IIHL) IndusInd (Mauritius) Holdings Ltd. (IMHL) IndusInd Ltd. (IL) IndusInd Investments Ltd. (IIL) DeFive Mauritius Holdings Ltd. (DFMHL).
Private-sector IndusInd Bank and Maruti Suzuki India Limited have announced a strategic tie-up for financing Maruti Vehicles on all India basis.
As per the agreement, Maruti Suzuki India has nominated IndusInd Bank as its preferred financier for financing all Maruti Vehicles.
IndusInd Bank will offer financing facilities to all eligible customers for purchasing Maruti Vehicles through its network of 180 branches, spread over 147 geographical locations.