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STOCK COMPARISON

Indbank Merchant Banking Services vs Mirae Asset Daewoo Securities Co: Fair Value & Quality

Both stocks run through our valuation models. Here is how Indbank Merchant Banking Services (INDBANK) and Mirae Asset Daewoo Securities Co (006800) compare, as of Aug 17, 2026.

As of Aug 17, 2026, Fair Value Calculator sees Indbank Merchant Banking Services as the less overvalued of the two: Indbank Merchant Banking Services trades at ₹32.49 versus a fair value of ₹20.87 (-36%), while Mirae Asset Daewoo Securities Co trades at KRW 37,650 versus KRW 15,308 (-59%).
Indbank Merchant Banking Services
INDBANK.NSE · INR · Financials
-36%
upside to fair value
overvalued
Price₹32.49
Fair Value₹20.87
Quality67/100
Mirae Asset Daewoo Securities Co
006800.KO · KRW · Financials
-59%
upside to fair value
overvalued
PriceKRW 37,650
Fair ValueKRW 15,308
Quality47/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Indbank Merchant Banking ServicesMirae Asset Daewoo Securities Co
Valuation
20.4×P/E (TTM)
5.91×P/S (TTM)
1.49×P/B
6.1×EV/EBITDA
Dividend yield0.7%
Dividend per shareKRW 300
Profitability
29%Net margin8%
30%Operating margin36%
7%Return on equity17%
6%Return on assets2%
Growth
14%Revenue growth (YoY)185%
16.5%Avg. growth/yr (3Y)-1.4%
15.9%Avg. growth/yr (5Y)8.5%
Balance & size
Debt / equity0.91×
$15MMarket cap$17B
expensiveGrowth qualitymixed

Indbank Merchant Banking Services leads: 4 to 3 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Indbank Merchant Banking Servicesof which business quality 64 · market factors 42 Mirae Asset Daewoo Securities Coof which business quality 44 · market factors 40
ProfitabilityMargins and returns on capital today
44
37
Quality GrowthAre margins and returns improving?
57
52
CashflowEarnings quality: real cash, not paper profit
37
33
Fin. StrengthBalance sheet, leverage, solvency risk
100
40
InvestmentDisciplined investing over empire-building
70
64
Low VolatilityCalm price path (market factor)
65
16
MomentumPrice trend over the last 3–12 months (market factor)
35
43
52W MomentumDistance to the 52-week high (market factor)
28
65
Net IssuanceBuybacks instead of dilution
83
49

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Indbank Merchant Banking Services

DCF Models₹40.48
Earnings-Based₹39.58
Multiples₹24.08
Asset-Based₹14.91
Growth DCF₹27.70
Economic Profit₹17.57

7 of 11 models see the stock below the current price.

Mirae Asset Daewoo Securities Co

MultiplesKRW 19,213
Asset-BasedKRW 15,144

2 of 2 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Indbank Merchant Banking Services
Bear ₹15.65Fair Value ₹20.87Bull ₹26.09
₹32.49 = current price (white tick)
Mirae Asset Daewoo Securities Co
Bear KRW 11,481Fair Value KRW 15,308Bull KRW 19,135
KRW 37,650 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Indbank Merchant Banking Services · Financials

Quality score67 · Top 25%
Fair value upside-36% · below median

Mirae Asset Daewoo Securities Co · Financials

Quality score47 · below median
Fair value upside-59% · bottom 25%

Bottom line

As of Aug 17, 2026, Fair Value Calculator sees Indbank Merchant Banking Services as the less overvalued of the two: Indbank Merchant Banking Services trades at ₹32.49 versus a fair value of ₹20.87 (-36%), while Mirae Asset Daewoo Securities Co trades at KRW 37,650 versus KRW 15,308 (-59%).

Indbank Merchant Banking Services has the higher quality score (67/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.