IndusInd Bank Ltd (INDUSINDBK) — share price & stock analysis

Market cap

₹73,363 Cr

P/BV

1.12×

ROE

1.4%

vs own 10-yr valuation

20th pctile

Book value / share

₹842

EPS (TTM)

₹-26.1

10-yr median P/BV

2×

Revenue (FY26)

₹46,251 Cr

Profit after tax (FY26)

₹889 Cr

Weinstein stage

Stage 2 (5 weeks)

Data as of

1 July 2026

4 of the 5 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROE 1% — below what a bank must earn to create value; GNPA 3.4% — still elevated; the spread is mid-band vs its own history. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, lending and bad loans count double.

A rally without earnings underneath it

Since Apr 2016, the stock is down 4% while earnings per share fell 166%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps

That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.

Today’s P/BV of 1.1× sits near the bottom of its own range — it has been cheaper than this only 20% of the time against its own 10-year history.pb_ratio

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/BV — what the market pays per rupee of book value; the dotted line is its long-run median (2×).

An uptrend that has held for 5 weeks

Every stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 2: advancing, 5 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹882 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 17 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Profits have now fallen two years running

Over 12 years, income went from ₹8,254 Cr to ₹46,251 Cr (about 15% a year), and profit from ₹1,408 Cr to ₹889 Cr.revenuenet_profit

Interest income has flattened

Mar 26 income was ₹11,005 Cr, up 4% on a year ago. A bank grows by lending more and charging well — this line is both together.revenue

The squeeze is easing — the spread bottomed at 29% and is mending

Of every ₹100 of interest the bank earns, ₹60 goes straight out as interest on deposits and borrowings. It keeps ₹40 — up 11 points from a year ago.revenueinterest_expense

The visible arc: squeezed from 45% down to 29% (Mar 25) as deposits repriced faster than loans, and recovering since. The direction matters more than the level now.interest_expense

Bad loans are rising — 1.9% → 3.4% of the book

₹3.4 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying. After the money already set aside, the true exposure is 1.0%.gross_npa_pctnet_npa_pct

Rising bad loans eat profit twice — the loan stops earning, and money must be set aside for the loss. This is the line that kills bank stories.

Profit exploded 126% year on year

Mar 26 profit was ₹594 Cr, up 126% on last year — earnings per share of ₹7.63.net_profiteps

The market still prices this bank below its own average

Today you pay ₹1.12 for every ₹1 of book value, against a long-run median of ₹2.00. It has traded cheaper than this only 20% of the time since 2016.pb_ratio

Institutions sold for years — and have been buying back since

Promoters hold 15.8%, essentially unchanged. Foreign funds own 28.6%, domestic funds 40.1%.promoters_pctfiis_pctdiis_pct

Foreign funds tell the real story: they sold from 42.3% down to 24.7% (Dec 24), and have been buying back since — now 28.6%. A completed round trip like that usually means the doubts got answered.fiis_pct

The numbers earn a deeper study — and watch the one thing that matters

The numbers lean positive, and the price already assumes the good news continues.

Best thing in the data: profit rising (₹−2,329 Cr → ₹594 Cr).net_profit

Biggest worry: return on equity falling (4.0% → 1.0%).roe_pct

One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 78% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data