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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
IndusInd Bank shares see target price cuts as brokerages react to CEO’s shortened tenure
IndusInd Bank shares slumped over 5% on Monday as analysts flagged concerns over strategic uncertainty after the Reserve Bank of India (RBI) granted CEO Sumant Kathpalia only a one-year extension instead of the three-year term sought by the bank’s board. Brokerages reacted with a mix of target price downgrades and cautionary outlooks, citing leadership instability, asset quality concerns, and regulatory scrutiny.
This is the second consecutive time the RBI has approved a shorter tenure for Kathpalia than what was proposed by the board. The private lender’s stock has lost 42.45% over the past year, 8.41% in the last three months, and 9.11% in the last week alone.
Emkay Global
Emkay Global sharply cut its target price for IndusInd Bank to Rs 1,125 from Rs 1,400—a 20% reduction—while maintaining a ‘buy’ rating. The new target implies a potential 27% upside from the current stock price of Rs 886.4. The brokerage warned that the CEO’s shorter tenure could lead to a management transition, fueling strategic uncertainty amid existing concerns over growth and asset quality.
However, Emkay Global noted that the one-year period provides adequate time to identify a suitable external successor.
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Even at $5 trillion, Nvidia is underappreciated
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