Global brokerage CLSA has cut IndusInd Bank share price target to ₹900 from ₹1,300, citing the recent accounting discrepancy and uncertainty surrounding the private bank’s leadership. However, the global brokerage firm has maintained its ‘Outperform’ rating, drawing parallels to past market reactions seen in RBL Bank and Yes Bank. The cut in IndusInd Bank share … Read more
IndusInd Bank‘s near-term outlook remains clouded by strategic uncertainty following the Reserve Bank of India‘s (RBI) decision to approve only a one-year tenure extension for its incumbent Managing Director and CEO, Sumant Kathpalia. The move contrasts with the bank’s board recommendation for a three-year term, raising concerns over a potential leadership transition and its impact … Read more
About a third of NSE 500 stocks are cheaper than their pre-Covid valuations, as measured by price-to-earnings (PE) and price-to-book (P/B) ratios. Following the sharp market correction since October 1, several blue-chip companies are 10-60% below March 2020 levels by these key metrics. They include HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India … Read more