Overview

• Nomura raised its rating on IndusInd Bank to buy from neutral and lifted the target price to Rs 1,050, sending shares up about 6%
• The lender took a one-time Rs 5,300 crore provision in Q4 to correct legacy derivative and microfinance accounting discrepancies
• Foreign portfolio investors boosted their stake in the bank to 29.53% in the March quarter, marking the largest increase in nearly a decade
• Common Equity Tier-1 and liquidity coverage ratios remain strong at 15.1% and 118%, underpinning the bank’s financial stability
• Nomura expects return on assets to improve to 1% by FY27 as new leadership is installed and credit costs decline