Time period given by analyst is one year when ICICI Bank Ltd. price can reach defined target.
ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 480909.22 Crore).
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 38852.60 Crore, down -10.93 % from last quarter Total Income of Rs 43621.29 Crore and up 2.41 % from last year same quarter Total Income of Rs 37939.32 Crore. The bank reported net profit after tax of Rs 4747.42 Crore in latest quarter.
Investment Rationale
ICICI remains top pick in the sector. The brokerage retains Buy/OW in EAP with a TP of Rs825 (2.5x Sep’23E ABV + subs value of Rs170), given its solid growth trajectory, superior core profitability, healthy capital/provision buffers, and management credibility/stability unseen in the past.
Key risks: Severe third Covid wave affecting macro/consumption recovery and hampering the bank’s growth/asset-quality normalization
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of June 30, 2021, while FIIs held 37.7 per cent, DIIs 32.7 per cent and public and others 29.6 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
