Moneycontrol PRO

Buy ICICI Bank; target of Rs 932: Geojit

Geojit is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 932 in its research report dated July 27, 2022.

July 28, 2022 / 09:21 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Geojit's research report on ICICI Bank


ICICI Bank is India’s second-largest private sector bank, with 5,534 branches and 13,379 ATMs across the country. Of the total branch network, ~51% are in semi-urban and rural areas. Standalone Q1FY23 net interest income (NII) grew at 20.8% YoY with NIM expanding 12bps YoY to 4.01%. Core operating profit (profit before provisions and tax, excl. treasury income) rose 19% YoY to Rs. 10,273cr in the quarter. Robust growth in deposits and advances, improving asset quality and with further reductions in gross and net NPA levels will drive the bank’s performance over the medium term.



Outlook


Hence, we reiterate our BUY rating on the stock, with a target price of Rs. 932 based on SOTP.

Close

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.

ICICI Bank - 270722 - geo

Broker Research
first published: Jul 28, 2022 09:21 pm
Sections
ISO 27001 - BSI Assurance Mark