Religare Institutional Research has maintained 'Buy' on Indusind Bank (IIB) with target price of Rs 575 in its report.

Commenting on the investment rationale, the stock broker said, ''IIB's Q4FY14 beat estimates with PAT up 29% YoY to Rs 3.96 billion. NII grew by a healthy 7% QoQ (+18% YoY) as NIMs expanded 10bps QoQ to 3.75% on lower cost of funds. While headline asset quality was stable due to higher reductions, pressure on the consumer finance book persisted.

Management reiterated its strategy for FY14-FY17 - growing advances at 25-30% CAGR, doubling the branch network, improving CASA (>35%), and ensuring fee growth>advances growth. While the stock is expensive (2.6x FY15E ABV/ 2.1x FY16E ABV), we maintain 'Buy' given the strong earnings visibility.''

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.