invoStock.com - IndusInd Bank shares have been trending closer to their 52-week high of Rs 1275.2, reached on September 20, 2022. Today's stock has dropped 1.95 percent, trading at Rs 1,215 on BSE. The banking stock has formed an ascending triangle, a bullish technical pattern. Because IndusInd Bank's RSI is at 56.8, the stock is neither overbought nor oversold. The stock's beta of 1.4 over a year indicates extreme volatility. All five major moving averages (5, 20, 50, 100, and 200 days) show that IndusInd Bank share prices are trading above their respective long-term averages.

Despite this, after two trading days, the stock price dropped. The stock has increased by 32% over the past year but is down by 0.36% in 2023. On the Bombay Stock Exchange (BSE), a total of 0.21 million shares, or Rs 2.62 crore, changed hands. The value of the bank on the stock market was Rs 94,585 crore.

For the three months ending in September, the private sector lender's net profit increased sharply, by 60.40% YoY, to Rs 1,787 crore. Total net interest income for Q2 increased by nearly 18% to Rs 4,302 crore. To the tune of Rs 1,141 crore, provisions dropped by over 33 percent of the total year-on-year in the third quarter. The amount of Rs 1,250 crore set aside for bad debts in the previous quarter was used.

Here is a look at what various brokerages and analysts have predicted for the stock's future performance.

CLSA, a global research firm, upgraded IndusInd Bank to buy at the beginning of this month and set a new target price of Rs 1,500 per share, representing a gain of more than 21% over the current market price. CLSA predicts that 2023, especially the first half of the calendar year, will be productive for Indian banks.