Nearly 5 Years of Wait – Now Tailwinds Favouring the Story

Nearly 5 Years of Wait – Now Tailwinds Favouring the Story

Indian Bank

The Indian Bank share has seen an all time high of 427 in November of 2017. During the Year ended 2018 March, it recorded 1311 crore of Net profit for one financial year .  The same amount of Profit it has posted in this one quarter of FY 22-23 and the price of share is ruling at 193.

CMP 193.20

Market Cap 24,061 Crore

Price to Book Value 0.52

The Historical median PE of the bank has been at 5.9 and the current PE stands at 5.7

The Dividend Yield on the stock is high at 3.37%.

HDFC Mutual Fund through its scheme HDFC Mid cap opportunities fund hold significant portion in the Bank which they have increased in recent quarter as well.

Indian Bank share of domestic CASA to domestic deposits was 41.29% on June 22

Bank is targeting to recover Rs 8, 000 crore in FY23 i.e. Rs 2,000 crore per quarter on an average. In Q1 itself, Indian Bank has exceeded its quarterly goal and management comments that going forward it will be able to achieve the set target. 

In FY21, Indian Bank has recovered Rs 5,500 crore and in FY22 recovery of  Rs 7,100 crore was seen.

https://www.financialexpress.com/industry/banking-finance/we-are-targeting-to-recover-rs-8-000-crore-this-fiscal-indian-bank-md-and-ceo-shanti-lal-jain/2613847/

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