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Last Updated : Apr 16, 2019 11:03 AM IST | Source: Moneycontrol.com

ICICI Bank spikes 3% after Goldman Sachs retains buy, raises target price to Rs 492 per share

Goldman Sachs expects ICICI Bank to deliver ROAs of 1.8 percent and ROEs of 17 percent over FY20-21.

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2) ICICI Bank | Headquarters: Mumbai, No of employees: 81,548 (Image: Reuters)
2) ICICI Bank | Headquarters: Mumbai, No of employees: 81,548 (Image: Reuters)
 
 
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ICICI Bank spiked 3 percent intraday Tuesday after global research firm Goldman Sachs reiterate a buy call on the stock has raised the target to Rs 492 per share. The research firm is of the view that mobilisation and strength of retail franchise is central to investment thesis. It feels that with strong deposit franchise and lower cost of funds will put the company at an advantage.

Goldman Sachs expects ICICI Bank to deliver ROAs of 1.8 percent and ROEs of 17 percent over FY20-21.

ICICI Bank

At 10:55 hrs ICICI Bank was quoting at Rs 404.20, up Rs 11.45, or 2.92 percent. It has touched an intraday high of Rs 405.40 and an intraday low of Rs 396.60.
First Published on Apr 16, 2019 11:03 am
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