The share price of IndusInd Bank rose over 3 percent after the private lender reported its March quarter earnings with a 190.2 percent year-on-year (YoY) rise in standalone net profit at Rs 875.95 crore.

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Net interest income (NII) rose by 9.4 percent to Rs 3,534.61 crore as against Rs 3,231.19 crore, YoY.

Here is what brokerages have to say about the stock and company after Q4 earnings:

CLSA

While the second wave of COVID will lead to near-term uncertainty, improving deposit granularity, adequate coverage on stress book, and high core profitability should ensure stability, CLSA said.

"We expect ROEs to increase to about 15% by FY23/24F; hence, current valuations at 1.35x FY23 book are undemanding," it said.

CLSA maintains a Buy rating and a target price of Rs 1,325.

Nomura

Nomura noted that the bank's management expects to grow CVs, vehicles, MFI & diamond financing, while rising COVID-19 cases may impair the growth in high-touch businesses.

It maintained a Buy call with a TP of Rs 1,130 per share.

Jefferies

"CASA is also building up well & management sees scope to cut rates, this will be key to lift loan growth from just 3 percent QoQ now," Jefferies said.

The brokerage maintained a Buy call with a target price of Rs 1,300 per sahre.

Anand Rathi

"Key positives for the quarter were slippages at 0.9% of loans, collection efficiency at 98%, strong retail deposit growth, sturdy balance sheet with 75% coverage and Rs 16 billion provision buffer and strong liquidity and capitalisation," said Rathi.

"We maintain our positive view on the bank with a TP of Rs 1070."

At 11:30 am, the shares of IndusInd Bank were trading 0.74 percent lower at Rs 928.05 apiece on the BSE.

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