Sharekhan is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 450 in its research report dated May 06, 2019.
Sharekhan's research report on ICICI Bank
In Q4FY2019, ICICI Bank registered better than expected net interest income (NII) growth by 26.5% y-o-y, aided by margin expansion and a sequential improvement Net interest margin (NIM) by 32 BPS to 3.72%. Healthy Business parameters of sustained improvement in asset quality; comfortable margins, comfort on capital position (Tier 1 at 15.1%), strong retail franchise are key positives for the bank.
We maintain our Buy rating with a revised price target (PT) of Rs. 450, considering its improved long-term outlook and strong franchise.
For all recommendations report, 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.