Shares of IndusInd Bank were trading near their 52-week high in early trade ahead of the lender’s Q3 earnings set to be announced today. IndusInd Bank stock was trading 0.37% higher at Rs 1234.80 against the previous close of Rs 1230.25 on BSE. The stock hit a 52-week high of Rs 1,275.25 on September 20, 2022.
In a year, the stock of IndusInd Bank has gained 37.06 per cent and risen 1.01% in 2023. Total 9,701 shares of the firm changed hands amounting to a turnover of Rs 1.19 crore on BSE. The market cap of the bank stood at Rs 95,693 crore.
In technical terms, the banking stock is looking strong with an ascending triangle setup. The relative strength index (RSI) of IndusInd Bank stands at 54.4, signaling neither the stock is overbought or oversold. The stock has a one-year beta of 1.4, indicating very high volatility during the period. IndusInd Bank shares are trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The bank is expected to report a healthy set of earnings for the quarter ended December 2022.
Emkay Global sees a 50.90 per cent year-on-year (YoY) rise in net profit at Rs 1,872.80 crore against Rs 1,241.40 crore in the corresponding quarter last year. NII is expected to climb 17.8 per cent YoY to Rs 4,467.80 crore compared with Rs 3,793.60 crore in the year-ago quarter. NIM is likely at 4.2 per cent compared with 4.1 per cent in the December quarter last year.
Sharekhan expects IndusInd Bank to report a profit of Rs 1,887 crore. NII is expected to grow 17.2 per cent YoY at Rs 4,448 crore. Pre-provision operating profit is likely to rise 12.8 per cent YoY to Rs 3,614 crore in the last quarter.
Prabhudas Lilladher sees gross non-performing assets (NPAs) at 2.06 per cent compared with 2.48 per cent in the year-ago quarter. Provisions in the last quarter are seen at Rs 1,250 crore compared with Rs 1,654 crore YoY. The brokerage said IndusInd Bank earnings will be driven by decent loan growth of 16 per cent YoY. "We expect margins to be stable sequentially. With asset quality improving we expect, provisions to remain range bound," it said.
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