Manas Jaiswal of manasjaiswal.com has a buy call on Indian Bank with a target price of Rs 265.
The current market price of Indian Bank is Rs 256.1 Manas Jaiswal recommended to keep stoploss at Rs 250.
Indian Bank, incorporated in 1907, has a market cap of Rs 12300.27 crore.Indian Bank key Products/Revenue Segments include Interest Discount on Advances Bills which contributed Rs 11857.14 Crore to Sales Value (69.28 % of Total Sales), Income From Investment which contributed Rs 5113.15 Crore to Sales Value (29.87 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 121.65 Crore to Sales Value (0.71 % of Total Sales) and Interest which contributed Rs 21.71 Crore to Sales Value (0.12 % of Total Sales)for the year ending 31-Mar-2018.
The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 12333.61 Crore (7.16 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 7059.85 Crore (4.23% of total assets).
For the quarter ended 30-09-2018, the company has reported a Standalone Interest Income of Rs 3392.03 Crore, up .37 % from last quarter Interest Income of Rs 3379.54 Crore and up 16.87 % from last year same quarter Interest Income of Rs 2902.34 Crore.
The bank has reported net profit after tax of Rs 150.14 Crore in latest quarter.