Indian Bank: Strong operating performance with improving asset quality; Reiterate Buy
(INBK IN, Mkt Cap USD2.7b, CMP INR356, TP INR430, 21% Upside, Buy)
Indian Bank offers deposits, loans and services. The Bank's segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. The Company offers products under various categories, including agriculture, corporates, personal/individual, business, professional self-employed, small and medium-sized enterprise (SME), cards, education, Non-Resident Indian (NRI), property and technology. Its deposits include savings bank (SB) account, such as SB Vikas Khata, SB Platinum, SB Power, SB Silver and SB Gold; current account, including Premium Current Account and IB i-Freedom Current Account; term deposits, including fixed deposit, re-investment plan, insured recurring deposit, variable recurring deposit and facility deposit, and NRI accounts, including Non-Resident Ordinary Account. It also offers services, which include premium services, insurance services and e-payment of indirect taxes. The Bank has approximately 70 specialized branches across the country.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
Indian Bank:Strong operational performance with asset quality improvement(INBK IN, Mkt Cap USD2.7b, CMP INR377, TP INR438, 16% Upside, Buy)INBK reported PAT of INR4.5b (13% beat) v/s INR4.05b in 2QFY17, led by strong revenue growth and controlled operating expenses.NII grew 21% YoY to INR15.4b (5% beat), led by 13% YoY loan growth and a 12bp QoQ improvement in the global margin. This, supported by healthy 22% YoY growth in other income (36% YoY growth in core fees), helped deliver total revenue growth of 21% YoY.C/I ratio moderated 160bp QoQ to 39.1%, led by control on both employee and other...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...
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