Technical Analysis
As of Feb 13, 2026 close: ₹922.70 (open ₹922, high ₹929.95, low ₹903.35, volume 28.6L shares, VWAP ₹919.10). 52-week range ₹606-1,063; mkt cap ₹72,146 Cr. Key indicators (daily): RSI neutral, MACD/KST mildly bullish weekly; CCI(14) -97 (sell), ROC -3.68 (sell), but Ultimate Oscillator 51.96 (buy), ADX 17 (weak trend). Pivot levels (classic): prior support ₹900, resistance ₹950. Weekly: +0.93% to ₹903.70, 20D avg vol 46L (delivery 54.84%). Beta neutral, volatility high (ATR ~₹7-25). Outlook: Bullish above ₹930 (20D EMA), risk of retest ₹900 on break.
Fundamental Analysis
Q3 FY26 Key Metrics (ended Dec 2025): Net profit ₹128 Cr (vs Q2 loss ₹437 Cr, YoY sharp drop); NII ₹4,562 Cr (QoQ up); NIM 3.52% (up from 3.32%); deposits ₹3.94L Cr (QoQ growth); gross advances ₹3.45L Cr (stable); CD ratio 83.7% (improved). Asset quality: GNPA 3.56% (↓ from 3.60%), NNPA 1.04%; PCR 68.3%; CRAR 16.94% (Tier1 14.69%). Fee income ₹1,707 Cr (core ₹1,575 Cr), PPOP ₹2,270 Cr. TTM: EPS -₹26.10, revenue growth average, ROA/ROE recovering; P/B 1.10 (low), P/E -35.46. Book value ₹843.33/share, dividend yield 0% (no payout).
Strengths: Retail focus (microfinance/vehicle loans growth Q4+), deposit mobilization. Weaknesses: Prior provisioning hits, franchise erosion in yields/fees. Peer context: IndusInd’s NIM competitive vs HDFC/ICICI/Axis, but GNPA higher and P/B lowest.
Recent News, Announcements & Impact
Q3 Results (Jan 22): Profit recovery celebrated, NIM expansion positive; shares +ve post-announcement, aiding sentiment stabilization.
Investor Events: Analyst meet Feb 11 (Mumbai, presentation on website); IIFL Conference Feb 24 (physical, no price-sensitive info)—potential for updates on microfinance.
Other: Physical securities transfer pub (Feb 5); new Chairman Arijit Basu; microfinance growth outlook Q4+. Goldman Sachs (Jul 2025) warned 18% downside on market share loss—lingering caution. Impact: Short-term neutral-positive, re-rating if NPA trends sustain.
Micro Events
Segment Growth: Microfinance loans to rebound Q4 FY26 post-regulatory stress; vehicle/commercial loans steady.
Liability Side: Borrowings ↓13% QoQ, LCR deposits up; granular deposit growth.
Income Mix: Fees 37% NII boost, treasury gains ₹200+ Cr.
Provisions: Slipped but PCR improved; focus on slippages control. These drive NIM to 3.6%+ target.
Macro Events
Banking Sector: RBI MPC (Feb) steady rates, but provisioning norms tighten on unsecured loans; NPA spikes in microfinance/vehicle (sector-wide).
Economy: FII outflows, GDP growth moderation; Bank Nifty 61K resistance (IndusInd drags on losses).
Outlook: ROA H2 FY26 recovery expected; promoter holding stable 15.08%. Seasonality: Feb avg +0.29% (10/18 yrs negative). Positive: Sector PE 20.59, revenue index +18.5%.
Disclaimer
This report from Investogainer Research is for educational and informational purposes only. It does not constitute buy/sell/hold recommendations or investment advice. Stock markets involve substantial risks, including loss of principal. Past performance does not guarantee future results. Investors must perform independent research, assess risk tolerance, and consult qualified financial advisors/SEBI-registered professionals before acting. Data sourced from public domains; no guarantees on accuracy/completeness. Investogainer Research disclaims all liability for losses arising from reliance on this report.
Conflict of Interest Disclosure
Investogainer Research (SEBI Reg No. INH000012856, BSE Enlistment No. 5845, Website: www.investogainerresearch.com), its directors, employees, or associates hold no direct/indirect positions, long/short derivatives, or significant stakes (>1%) in IndusInd Bank. No financial interest or incentive tied to this recommendation. All opinions are independent, based solely on public data as of Feb 14, 2026. We have not received compensation for this coverage.