28 August 2011

Goldman Sachs, ::Banks IndusInd Bank (Buy, on Conviction List) target price: Rs350, 47% potential upside

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IndusInd Bank: More scope on high growth
> We believe INBK will deliver profit CAGR of 22% FY2011-FY2014E
> We believe this growth will be driven by (1) Increasing CASA (2) higher cross-sell resulting in
increased income Above industry loan growth and (4) INBK is planning to undertake significant branch expansion,  This should drive up INBK’s CASA ratio…


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