Buy Indian Bank, target price Rs 370: ICICI Securities
Indian Bank with a target price of Rs 370. The current market price of Indian Bank is Rs 346.5.
ICICI Securities recommended to keep stop loss at Rs 337. Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 43341.35 Crore).
Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 14921.43 Crore, up 3.51 % from last quarter Total Income of Rs 14415.98 Crore and up 25.42 % from last year same quarter Total Income of Rs 11897.53 Crore. The bank has reported net profit after tax of Rs 1849.68 Crore in latest quarter.Investment RationaleBreakout from three months consolidation and daily stochastic is in buy mode.
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