INDUSIND BANK promoters raise funds, know brokerage’s perspective on stocks to earn

The promoter of IndusInd Bank has raised the fund. Promoters have managed to raise funds from the IIHL rights issue. Its rights issue is subscribed over. The shareholders have invested at a premium of 1400 percent. Now IIHL will redeem the remaining 75 percent warrant at the price of Rs 1709.

Along with this, the promoters will also sell some non-core assets. The bank will spend Rs 2021 crore on redeeming warrants. IIHL will have a 15 percent stake after redeeming the warrant.

Opinions on the INDUSIND BANK of JEFFERIES

JEFFERIES has given a buy rating on INDUSIND BANK and fixed the target at Rs 1300. He says that the promoter will convert the warrant of Rs 2700 crore at a premium of 60 per cent. These warrants will convert by February 18. Thereafter, raising funds will not cause problems with liquidity. Apart from this, the promoters will list the company separately.

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CLSA’s opinion on BANKS

CLSA has given an opinion on BANKS saying that the results of banks have shown signs of improvement in the third quarter. PPoP has performed better while asset quality has also improved. Banks have seen signs of better credit cycle since the third quarter.

They have said that up to 30-70 per cent has been increased in banks so far. In addition, banks are expected to continue to outperform in the next half. In banking sector Axis Bank, ICICI Bank, SBI His top pick will be. They say a 20-40 percent jump in shares from the current levels is possible.

Stocks in News: These are today’s popular stocks, keep an eye on them