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Buy Indian Bank, target Rs 333: Kunal Bothra

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Independent analyst Kunal Bothra has a buy call on Indian Bank with a target price of Rs 333. The current market price of Indian Bank is Rs 320.7 . Time period given by the analyst is Intra Day when Indian Bank price can reach the defined target. Kunal Bothra recommended to keep the stop loss at Rs 315.

Indian Bank, incorporated in 1907 is a banking with a market cap of Rs 15402.95 crore.

Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 11461.32 Crore to Sales Value (71.45 % of Total Sales), Income From Investment which contributed Rs 4423.95 Crore to Sales Value (27.58 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 125.59 Crore to Sales Value (0.78 % of Total Sales) and Interest which contributed Rs 28.88 Crore to Sales Value (0.18 % of Total Sales)for the year ending 31-Mar-2017.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 9595.15 Crore (6.27 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 4898.60 Crore (3.30% of total assets). For the quarter ended 31-12-2017, the company has reported a Standalone Interest Income of Rs 3029.46 Crore, up 4.38 % from last quarter Interest Income of Rs 2902.34 Crore and up 6.11 % from last year same quarter Interest Income of Rs 2854.94 Crore. The bank has reported net profit after tax of Rs 303.06 Crore in latest quarter.

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