IndusInd Bank Short Term Buy Call

IndusInd Bank Short Term Buy CallTechnical 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.

Mr. Anil has already started establishing the bank's Credit Card Biz.

Previously, Mr. Ramachandran was working with Deutsche Bank as Head Credit Cards Biz for the country.

Indusind Bank has registered an increase of 71% in its net profit to Rs 1,331.50 million for the three month period ended Sep 2010 as against Rs 778.20 million for the corresponding period last year.

Total income surged 30.71% from Rs 7873.80 million for the same period of 2009 to Rs 10,292 million for the quarter ended Sep. 30, 2010.

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