Hot Stocks: Brokerage view on IndusInd Bank, Paytm, Kaynes Technology and ICICI Prudential Life

June 27, 2023

Macquarie has maintained its outperform rating on IndusInd Bank with a target price of Rs 1510, as the bank aims to strengthen its balance sheet by making more contingent provisions and raise net interest margins from 4.2-4.3% to 4.4%. Macquarie has also downgraded Paytm to neutral with a target price of Rs 800 due to a sharp run-up in the share price but expects accounting profitability from the platform by FY26. Additionally, brokerage firms Spark and CLSA recommended a buy rating on EMS player Kaynes Technology and life insurer ICICI Prudential, respectively.

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