{"id":102606,"date":"2023-05-09T12:32:00","date_gmt":"2023-05-09T07:02:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102606"},"modified":"2023-05-09T12:30:40","modified_gmt":"2023-05-09T07:00:40","slug":"nifty-50-stock-to-buy-now-for-an-upside-of-more-than-35-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/nifty-50-stock-to-buy-now-for-an-upside-of-more-than-35-check-the-details\/","title":{"rendered":"Nifty 50 stock to BUY now for an upside of more than 35%; Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3399766043\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of IndusInd Bank were trading higher on Tuesday at \u20b9 1144.45 apiece, despite the resignation of its chief risk officer, after brokerages reaffirmed faith in the stock.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2007779216\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to an exchange filing Ramaswamy Meyyappan, the Chief Risk Officer of the Bank tendered his resignation on May 05, 2023. He was associated with the bank since May 20, 2014, and will be moving on to lead the risk function at a multinational bank in the next phase of his career.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/INDUSINDBK\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">IndusInd Bank\u2019s<\/a><\/strong> net profit rose 50 percent to \u20b9 2,040 crore in the March quarter of FY23. Moreover, it declared a dividend of \u20b9 14 per share for the financial year. The lender\u2019s net interest income came in at \u20b9 4,669 crores, up 17 percent from \u20b9 3,985 crores in the corresponding quarter a year ago.\u00a0<\/p><p>Morgan Stanley has an overweight rating on the stock with a target price of \u20b9 1525.00. This translates to an upside of 33.25 percent as compared to its share price of \u20b9 1144.45 per share. It believes that management changes in businesses are usual and this is unlikely to have a significant impact on the bank\u2019s earnings.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-908036163\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Jefferies has a \u2018buy\u2019 rating on the shares with a target price of \u20b9 1,550.00, which implies an upside of 35.44 percent as compared to its share price. The global investment bank sees IndusInd bank\u2019s valuations as attractive at 1.3x FY24E.\u00a0<\/strong><\/p><p>IndusInd Bank is engaged in banking and para-banking services. It accepts deposits and grants loans to various segments such as businesses, priority sector lending as well as individuals.&nbsp;<\/p><p>Foreign Institutions hold a 42.04 percent stake in the company followed by retail investors with 17.52 percent, promoters with 16.50 percent, mutual funds with 15.63 percent and other domestic institutions with 8.31 percent.&nbsp;<\/p><p>IndusInd Bank is a large-cap bank with a market capitalization of \u20b9 87,393 crores and it forms a part of the Nifty 50 index. It has a return on equity of 14.45 percent. Its shares were trading at a price-to-earnings ratio of 11.75, which is higher than the industry price-to-earnings ratio of 9.27.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-4207076641\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of IndusInd Bank were trading higher on Tuesday at \u20b9 1144.45 apiece, despite the resignation of its chief risk officer, after brokerages reaffirmed faith in the stock.&nbsp; According to an exchange filing Ramaswamy Meyyappan, the Chief Risk Officer of the Bank tendered his resignation on May 05, 2023. He was associated with the bank [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":39466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[7314,9049,7313,9050,8797,9051,948,936],"class_list":["post-102606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-indusind-bank-latest-news","tag-indusind-bank-q4-results-2023","tag-indusind-bank-share-price","tag-indusind-bank-share-price-target","tag-latest-stock-market-news","tag-nifty-50-stock-to-buy-in-2023","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nifty 50 stock to BUY now for an upside of more than 35%; Check the details - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of the bank were trading higher on Tuesday at \u20b9 1144.45 apiece, despite the resignation of its chief risk officer, after brokerages reaffirmed faith in the stock.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=102606\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nifty 50 stock to BUY now for an upside of more than 35%; 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