QUICK TAKE: INDUSIND BANK GAINS ON NEW GROWTH PLANS

Indusind Bank stock is up over 12% in the last fortnight. ICICI Securities has a target price of ~1,260, and says the bank is geared up for execution of its Planning Cycle-5 strategy to build scale in its domains of expertise, invest in new growth engines, fortify liabilities, and leapfrog into digital banking “Just because the Fed’s going into a tightening cycle, it doesn’t mean that’s bad for equity investors. If it’s because they’re tightening because the economy is doing well, and they stay ahead of the curve, that’s a good thing” CHRIS GAFFNEY, President, world markets, TIAA Bank