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Strong Q1 builds case for IndusInd's re-rating; 50% upside likely: Analysts

IndusInd Bank Q1 review: For a stronger re-rating, IIB would need to demonstrate decline in stress formation and increase in deposit granularity, analysts said

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Nikita Vashisht New Delhi
IndusInd Bank shares surged 9.3 per cent to Rs 961 apiece on the BSE in Thursday's intra-day trade after the lender reported stellar June quarter results on Wednesday. The shares ended 8 per cent higher at Rs 950 as against a 0.51-per cent gain in the benchmark S&P BSE Sensex. 

Analysts see up to 49.5 per cent upside in the stock from current levels, as the bank gets closer to the end of Covid-19 pandemic blues, and the focus gradually shifts to core business performance. Moreover, they see a strong case of stock re-rating in the medium-term.

"IndusInd Bank (IIB)