Indusind Bank Ltd India has declaired dividend. It was started under the chairmanship of Srichand P Hinduja, the head of the Hinduja Group of Companies with the primary objective of serving the NRI community.
The Bank has built expertise in vehicle financing, micro-financing and diamond manufacturer financing.
It’s a large cap company having the Market Cap of ₹ 1,14,236 Cr.The 52 Week High (on 15-Jan-2024) was Rs 1694.50 & the 52 Week Low (on 01-Jun-2023) was Rs 1251.50.

Indusind Bank Dividend

Indusind Bank has declared a dividend of Rs. 16.50 per equity share of Rs.10/- each fully paid up (i.e. 165 %)out of the net profits for the year ended March 31, 2024.
The Bank has fixed Friday, June, 28, 2024 as the ‘Record Date’ for payment of final dividend i.e. anybody who wants to get the dividend must purchase the shares of the bank on/before 26/7/2024 to get themselves resister in the record of the eligible receivers of the dividend.
The payment date of the dividend will be on 1/7/2024. The investors will receive the payment of their dividend in their respective bank accounts on/before 1/7/2024.
The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 28/7/2024 and still they will be eligible to receive the dividend as their name would have been registered on 27/7/2024.
It is to be noted that on the record date , the share price of IndusInd Bank will fall by the dividend amount i.e it will fall by Rs16.50 per equity share to adjust its price to ex-dividend price.

IndusInd Bank share price target by 2024

At the time of writing this blog,the CMP(current market price) of Indusind Bank is Rs1465.Currently the share is trading in a sideways zone and is expected to give a good move when it crosses Rs 1575.If it crosses Rs 1575, then the target price of Indusind Bank  can be/it can easily give a return of 7.8% from that level to Rs1700.However,if the share crosses Rs 1377 levels, then it will witness further correction dropping to Rs 1273.

IndusInd Bank Financials

The quarterly  results are as follows:(Amount in crores) 

The company’s Quartely Sales and Net profits are increasing by the folowing percentages:

The ANNUAL P/L are as follows : (Amount in crores)

 The financial results seems to be positive for investors . However they  use consider the advice of their financial advisors before investing.      

Disclaimer

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