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Money spinners: 11 stocks you can buy when market corrects

Sat, Sep 14, 2013 at 11:56

| Source: Moneycontrol.com
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ICICI Bank

Target price: Rs 1,195

Rationale: It continues to report a strong growth in earnings led by a growth in advances and expansion in margins (2.9% in FY2013). Its advances are likely to grow at 17.6% CAGR over FY2013-15. This should lead to a 17.1% CAGR growth in the net interest income (NII) in the same period.

ICICI Bank's asset quality remains stable as its non-performing assets (NPAs) have declined in the past several quarters led by a contraction in slippages. This has led to a sharp reduction in the provisions and an increase in the profitability.

Going forward, the asset quality pressures are likely to be within the manageable limits leading to a healthy the profit growth.

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