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ING Vysya Bank – Call Update

ING Vysya Bank – Call Update

January 01, 1970 5:30 IST | India Infoline News Service
Reco price Rs381, Previous target Rs460, New target Rs535

We recommended a BUY on ING Vysya Bank (IVB) in a detailed report dated September 17, 2012 with a target price of Rs460. The stock has achieved the target in today's trading session registering 20.6% return from our recommended price of Rs381. IVB has delivered robust performance in Q2 FY13 enforcing us to revise our earnings estimates materially. RoA delivery would be better than earlier forecasted thus driving a stronger valuation re-rating. We advise investors to remain invested in the stock with a revised price target of Rs535.


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