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Ideas for Profit | Strong earnings visibility and compelling valuation make ICICI Bank a must buy

May 09, 2019 / 10:37 AM IST
Ideas for Profit | Strong earnings visibility and compelling valuation make ICICI Bank a must buy

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

ICICI Bank has been a tough stock for investors in the past 10 years. The bank faced two asset quality cycles in the last decade. The first was a jump in retail bad loans in FY08 coinciding with the global financial crisis, and then came a cascade of corporate bad loans, the effects of which have been felt since FY13. But the good news is that after a prolonged period of asset quality problems, ICICI Bank is now emerging from a...

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