Buy ICICI Bank; target of Rs 345: HDFC Securities

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

HDFC Securities' research report on ICICI Bank

ICICIBC’s 4Q results were a pleasant surprise, with (1) A sharp drop in net stressed assets, (2) Healthy domestic loan growth at 14%, led by retail, (3) NIM improvement, (4) Controlled opex (+2% QoQ), (5) Sustained momentum in CASA and (6) In-line net earnings, despite reversals of Rs 2.9bn towards foreign currency translation gains.

Outlook

However, we remain admirers of ICICIBC’s rising granularity in the B/S and P&L (fees), healthy capital position and expected value unlocking in subs. Maintain BUY with a SOTP of Rs 345 (1.75x Mar-19E ABV of Rs 146 + Rs 89 from subs).

For all recommendations, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More