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.

Te bank said that its directors will assemble on October 11, to consider and sanction the unaudited financial outcomes of the banking institution for the three month period ended September 30, 2010.

IndusInd Bank has lifted up around $253 million via its second Qualified Institutional Placement (QIP) proposal.

Romesh Sobti, managing director and chief executive of IndusInd Bank stated, "This second QIP offering has made the bank well capitalised and it will now meet our major growth aspiration."

IndusInd Bank, which started its functioning in the year 1994, owns 2.08 million clients, 224 divisions comprising in London and Dubai.

The bank has a total of 533 Automated Teller Machines (ATMs).