Indusind bank at dirt cheap levels Indusind bank has been hammered due to issues in the micro finance business, which is not the core business of the bank. As on date, it's trading at levels close to it's book value. Unless it's going to get closed, there's little chances of going down further south. few reasons why the price can go upwards and fill the gap created:
1. rate cuts are coming soon
2. US elections volatility about to get over in few weeks
3. The microfinance issue has been priced in, much more than it's actually, being quantitative
Going forward, in any day of market fall, it can be expected Indusind to hold ground ( it's at similar situation like HDFC at 1400 levels).
simple comparison of price to book value an be done of all major banks, it will be a clear idea of how Indusind looks super cheap now
It's high time to bulk buy around 1000-1200
PS: I reserve the right to be wrong. not SEBI registered.
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