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This Nifty 50 Stock Is In Buying Zone; Showing Strong Support At This Level

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IndusInd Bank Ltd (NSE: INDUSINDBK): A huge drop was witnessed in the market for stocks on Wednesday, and the market didn’t abide by any level of support. 

The decline was so intense that the Nifty was able to break the mark of 22000. The Sensex also broke through the mark of 73000. 

Nifty decreased by 338 points on Wednesday and ended at 21998, whereas Sensex was down by 906 points before closing at 73762.

In the course of this market downturn that took place, several large-cap stocks moved into the buying zones. 

One of them was able to close at a certain point on the daily chart that is in its buying zone.

Name of company: IndusInd Bank

The shares in IndusInd Bank Ltd sank 2.48 percent on Wednesday and closed at Rs 1495. 

The stock moved up from the level of Rs 1445 during the previous trading session and reached the price rise to Rs 1573 within a couple of trading sessions.

Daily chart for IndusInd Bank, the bank’s stock has risen from the low of Rs 1400 beginning in October 2023, to a amount of 1694.50 up to January. 

Following this, profit booking began in this stock in January 2024 and climbed to the amount of Rs 1437.

Following this it was a pullback rally for the company in February which brought it to a price of 1562. 

Following this, in February, the stock hit an inverse bottom at the price of 1445. It then took support from there, and then climbed upwards until March 7, 2024, the stock once more reached the level of 1573.

This led to profits being booked in the stock and, following the decline on the 13th of March 2024, the stock reached the 50-retracement level of the previous rally, that is 1500 rupees. 

stock’s price can be attained from this threshold

In the chart for daily trading, there is a downward trend line emerging from the candle on 20th January that continues to touch until the candle on March 1st. 

On the 13th day of March, IndusInd Bank closed just above the trend line. This indicates that Indusind Bank is supported at this point.

The benefit of trading the stock at this level of support is that it allows transactions with smaller stops and large goals.

About IndusInd Bank Ltd Company

IndusInd Bank Limited (the Bank) is engaged in offering financial services. The Bank provides various services and products for corporate and individual customers, such as microfinance, commercial and personal car loans and credit cards, personal loans, and small-to-medium enterprises (SME) credit. 

The Bank comprises segments like Treasury, Retail Banking, Corporate or Wholesale Banking, and Other Banking Operations. 

The Treasury segment offers every investment portfolio, profits or loss on sales of investment portfolios, or profit or loss from forex transactions and income from derivatives, equity, and other money market operations. 

The Retail Banking segment provides lending to and deposits to retail customers and identifies the income and expenditures. 

It is divided into Digital Banking and Other Retail Banking segments. The Wholesale or Corporate Banking segment offers loans to corporate customers. 

It also tracks the earnings and expenses. The total revenue from operations is 36367.91 crores, while equity capital amounts to Rs 775.90 crores.

Fundamental Analysis of IndusInd Bank Ltd

Market Cap₹ 1,17,014 Cr.
Current Price₹ 1,495
52-wk High₹ 1,694.50
52-wk Low₹ 990.20
Stock P/E13.41
Book Value₹ 704
Dividend0.93 %
ROCE6.91 %
ROE14.4 %
Face Value₹ 10.0
P/B Value2.13
OPM60.0 %
EPS₹ 111
Debt₹ 3,85,449 Cr.
Debt to Equity7.06

IndusInd Bank Ltd Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹1500₹1700
2025₹1743₹1854
2026₹1898₹1964
2027₹2009₹2132
2028₹2200₹2432
2029₹2543₹2687
2030₹2765₹2898
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IndusInd Bank Ltd Shareholding Pattern

Promoters Holding
Dec 202216.51%
Mar 202316.50%
June 202316.49%
Sept 202316.47%
Dec 202316.45%
FII Holding
Dec 202244.79%
Mar 202342.16%
June 202342.34%
Sept 202341.48%
Dec 202342.47%
DII Holding
Dec 202224.63%
Mar 202326.54%
June 202326.22%
Sept 202328.17%
Dec 202326.21%
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Govt. Holding
Dec 20220.37%
Mar 20230.37%
June 20230.37%
Sept 20230.37%
Dec 20230.36%
Public Holding
Dec 202213.70%
Mar 202314.45%
June 202314.59%
Sept 202313.50%
Dec 202314.52%

IndusInd Bank Ltd Share: Last 5 Years’ Financial Condition

To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 22,261 Cr
2020₹ 28,783 Cr
2021₹ 29,000 Cr
2022₹ 30,822 Cr
2023₹ 43,570 Cr
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Last 5 Years’ Net Profit:

2019₹ 3,301 Cr
2020₹ 4,418 Cr
2021₹ 2,836 Cr
2022₹ 4,611 Cr
2023₹ 8,643 Cr

Last 10 Years’ Profit Growth:

10 Years:21%
5 Years:15%
3 Years:19%
Current Year:29%

Last 10 years’ Return on Equity (ROE):

3 Years:11%
5 Years:12%
10 Years:13%
Last Year:14%

Sales Growth Over 10 Years:

10 Years:18%
5 Years:16%
3 Years:8%
Current Year:27%

Conclusion

This article is a complete guide about IndusInd Bank Ltd Share.

These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses. 

Also, We have talked in detail about the share’s future prospects and growth potential.

Hopefully, these informations will help you in your further investment. 

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