Buy Indian Bank, target price Rs 525: Motilal Oswal
Indian Bank with a target price of Rs 525. The current market price of Indian Bank is Rs 448.15.
Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 55621.40 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 30-09-2023, the company reported a Consolidated Total Income of Rs 15929.41 Crore, up 6.76 % from last quarter Total Income of Rs 14921.43 Crore and up 25.29 % from last year same quarter Total Income of Rs 12714.20 Crore.
The bank reported net profit after tax of Rs 2068.49 Crore in latest quarter.
Promoter/FII Holdings Promoters held 79.86 per cent stake in the company as of 30-Sep-2023, while FIIs owned 4.33 per cent, DIIs 11.76 per cent.
