Buy Indian Bank, target price Rs 600: Motilal Oswal
economictimes.indiatimes.comIndian Bank with a target price of Rs 600. The current market price of Indian Bank is Rs 525.0.
Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 70452.95 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 31-12-2023, the company reported a Consolidated Total Income of Rs 16315.35 Crore, up 2.42 % from last quarter Total Income of Rs 15929.41 Crore and up 18.55 % from last year same quarter Total Income of Rs 13761.95 Crore. The bank reported net profit after tax of Rs 2205.63 Crore in latest quarter.
Promoter/FII Holdings Promoters held 73.84 per cent stake in the company as of 31-Dec-2023, while FIIs owned 5.89 per cent, DIIs 15.81 per cent.
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