-------- Forwarded Message --------
Subject: Indusind Bank: 1055-1085 May Be A Big Hurdle
Date: Thu, 28 Apr 2016 09:27:49 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
*Trading Idea: Indusind Bank*
*CMP: 1040*
*
*
*Either sell around 1045-1055 or on rise 1085-1100;*
*
*
*TGT: 994*-970-949-935*-895-855*-832-799* (1-3/6M)*
*
*
*TSL> 1110*
*Note*: Consecutive closing (3 days) above 1110 zone for any reason, IIB
may further rally up to 1150*-1200 & 1280 in the near to long term
(alternative bullish case scenario).
Q4FY16 PAT of IIB printed at Rs.620.35 cr against consensus of 629.20
(YOY: 495.27; QOQ: 581.02).
Q4FY16 diluted EPS was at 10.33 against estimate of 10.47 (lagged by
1.35%). Previous median forecast of EPS was at 11.13 (YOY: 9.20; QOQ:
9.68).
In short Q4FY16 result of IIB was slightly below street estimate and
provision also raised by 20.65% from Rs.177 cr to Rs.213.6 cr (QOQ).
But, retail loan momentum is picking up and many analysts are banking up
on it with 28% CAGR in EPS and giving a TP of around 1175 in 12 months.
*For IIB:*
Q4FY16 TTM EPS: 39.15 (FY16/Actual-Diluted)
Projected FWD EPS: 46.45-55.05-65.25 (FY:17-19/Estimated)
Average PE: 22
*As par BG metrics and current market parameters:*
Present median valuation of IIB may be around: 905 (FY:16/TTM)
Projected fair value might be around: 985-1075-1170 (FY:17-19/FWD)
INDUSINDBK EPS(TTM) BV(Act) P/E(AVG) Low High Median 200-DEMA
10-DEMA
Q4FY16/TTM 39.15 193.4 22 881.58 922.00 901.79 902.33 986.98
FY17/FWD 46.45 215.75 22 960.26 1004.29 982.27 902.33
986.98
FY18/FWD 55.05 240.55 22 1045.38 1093.31 1069.34
902.33 986.98
FY19/FWD 65.25 268.15 22 1138.11 1190.30 1164.20
902.33 986.98
*Analytical Charts:*
<https://2.bp.blogspot.com/-VT-Lh30yC8U/VyGFde5u3qI/AAAAAAAAG-4/6-ldIgG55AkukG67gdTzOrxy1cZpVqs3wCLcB/s1600/IIB-27-04-2016.png>
<https://3.bp.blogspot.com/-y02NCBArMgI/VyGFe0ZegpI/AAAAAAAAG-8/Hb0b1yYwT2wfrpREwEkiW58SG-mCAyRKgCLcB/s1600/IIB-FIBB-27-04-2016.png>
<https://1.bp.blogspot.com/-YY_0I15UvGI/VyGFhNgTZfI/AAAAAAAAG_A/LZTfbqnis64tTaVdsBV9V0THA6gvwX4PwCLcB/s1600/IIB-MA-27-04-2016.png>
<https://1.bp.blogspot.com/-JlYB4ZDJj6k/VyGFkXeijbI/AAAAAAAAG_E/E_j0hcLbhb4RaFx3JFZI6VAIP63v0khZACLcB/s1600/IIB-TL-27-04-2016.png>
<https://2.bp.blogspot.com/-RpzESx9j_UM/VyGFnE71JCI/AAAAAAAAG_I/WqN6UTO25ts_lTZJXPMeAh-iVX4R-0glACLcB/s1600/IIB-TL-MT-27-04-2016.png>
<https://3.bp.blogspot.com/-3HycSCo_CgU/VyGFpJ8O0XI/AAAAAAAAG_M/lPHW-4fVAcsLBJGGyFBExBm7_-Kta-a7QCLcB/s1600/IIB-PATTERN-27-04-2016.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
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