Buy IndusInd Bank With Stop Loss Of Rs 244
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.
IndusInd Bank Ltd. pocketed the prominent 'Best use of technology in E-learning Initiatives-2010' honor under the private bank group by Indian Banks' Association (IBA) on March 2, 2011.
The banking institution was honored based on the expertise management technologies utilized for inner knowledge sharing & E-Learning with effectual measurement & monitoring of training schemes.
In addition, General Atlantic has purchased 0.6% equity stake in Indusind Bank for $14.5 million via open market purchase on Feb 28.
General Atlantic, which recently departed its decade-long investment in Patni Computer bought the scrips at Rs 218.87 each share.
Indusind Bank during the Oct-Dec 2010 period registered an increase of 74.76% in its net profit, which stood at Rs 1.54 billion as compared to Rs 880.40 million during the same period of 2009.
The company's total income surged 35.64% to Rs 11.11 billion for the period under review.