Buy ICICI Bank; target of Rs 1050: Motilal Oswal

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26 Aug, 2025 12:21

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ICICI Bank keeps on raising the benchmarks with exemplary performance every quarter. We cannot help but admire how the bank has consistently delivered industry leading performance amid a challenging period. What looks to be a picture perfect performance in one quarter only adds more colors in the ensuing quarter. Our conviction in the bank remains strong and we believe that the journey is likely to get even more exciting in the coming years. Over the last couple of quarters, due to intense FII selling, the bank’s absolute performance has been limited; however, with flawless execution it is only a matter of time that ICICI’s valuation will expand to its deserving multiple, thus generating supernormal returns for investors. We estimate ICICIBC to deliver a FY24 RoA/RoE of 2.1%/17.1%. ICICIBC remains our top pick in the sector

We estimate the bank to deliver a FY24 RoA/RoE of 2.1%/17.1% and reiterate our Buy rating with an SoTP-based TP of INR1,050 per share (2.8x FY24E ABV). ICICIBC remains our top pick in the sector.

At 11:08 hrs ICICI Bank was quoting at Rs 801.70, up Rs 5.65, or 0.71 percent.

It has touched an intraday high of Rs 803.50 and an intraday low of Rs 794.70.

It was trading with volumes of 38,976 shares, compared to its thirty day average of 547,231 shares, a decrease of -92.88 percent.

In the previous trading session, the share closed down 0.61 percent or Rs 4.85 at Rs 796.05.

The share touched its 52-week high Rs 859.70 and 52-week low Rs 642.00 on 25 October, 2021 and 07 March, 2022, respectively.

Currently, it is trading 6.75 percent below its 52-week high and 24.88 percent above its 52-week low.

Market capitalisation stands at Rs 557,713.29 crore.