IndusInd Bank Share Price Recovered after a long Correction
IndusInd Bank Share Price Recovered after a long Correction

IndusInd Bank Share Price (INDUSINDBK: NSE): IndusInd Bank share prices has been declining since January 2024, however, the major correction came on 23rd January 2024 when share traded at ₹1428, which was its lowest in 2024. Prior to this the share touched the highest mark of ₹1694 on 15th January 2024. Those investors and traders who bought the stock at the higher valuation got the shock when the share price started deteriorating and didn’t stabilise for almost a month.

Good News for IndusInd Bank Share Investors

After a major correction in the stock prices the share is now recovering from the major fall and progressing towards the ₹1600 mark. Although, there is an uptrend in the stock’s price but it will be interesting to see if it sustains the ₹1500 mark. If the stock gets support at this stage then the share price will certainly go up and cross the ₹1600 mark.

Current Situation of IndusInd Bank Share

When the stock market opened on Monday, 4th February 2024, the share opened at ₹1529.95 rupees and touched the highest of ₹1,538.95 and closed at ₹1,531.55. During the day more than 2.9 million shares were bought which indicates heavy buying. Looking at the current trends we are anticipating gap-up on 5th February.

What should be the target Price of IndusInd Share for March 2024?

If share doesn’t get any resistance from the sellers at ₹1538 mark, then you can expect the share price to go up and hit its previous high of ₹1694 by the end of the month.

IndusInd Bank Quarter on Quarter Profit Growth

Fundamentally the IndusInd bank looks strong, the bank is showing a positive growth quarter on quarter. If we look at the current stats, bank made a net profit of ₹1963 crores in December 2022, ₹2043 crores in March 2023, ₹2124 crores in June 23, ₹2202 crores in September 2023, ₹2301 crores in December 2023. That means bank is making an year on year average quarterly profit growth of approximately 17.3% which is in itself a good figure.

Also read:NCL Research and Financial Services Share Price Target 2024, 2025, 2026, 2030

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