IndusInd Bank shares fall 6% despite 72% jump in Q1 profit, brokerages divided
IndusInd Bank shares dropped over 6% despite a 72% increase in consolidated profit after tax to ₹1,037.05 crore for the June quarter, as investors weighed earnings improvements against net interest margin pressures. The bank's board approved raising up to ₹20,000 crore through debt securities and up to ₹10,000 crore via equity instruments. Brokerages are divided, with Jefferies maintaining a buy rating and raising the target price to ₹1,250, while Macquarie kept an underperform rating with a target of ₹625, citing ongoing challenges in net interest margins.