30/4/2025, 2:25:05 pm

Reduce IndusInd Bank; target of Rs 725: Emkay Global Financial

Emkay Global downgrades IndusInd Bank to "Reduce" from "Add," cutting its target price to Rs 725 from Rs 800. The downgrade follows top management resignations, including the MD & CEO, raising concerns about business disruption, deposit outflows, asset quality risks, and prolonged recovery. The bank's board has initiated the CEO hiring process, which may take 3-6 months.