Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!

Buy ICICI Bank: target of Rs 970: Sharekhan

Sharekhan is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 970 in its research report dated April 22, 2022.

April 25, 2022 / 11:00 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on ICICI Bank

ICICI Bank put up a strong show on all fronts- net interest income, core operating profit, earnings and advances recording robust growth with better asset quality and minimal core credit cost during the quarter. Bank reported PAT at Rs. 7,019 crore which was significantly above the street expectations of Rs. 6,315 crore, led by lower core credit costs. PAT grew by 59.4% y-o-y and 13.3% q-o-q in Q4FY22. Asset quality has continuously improved over the past seven quarters with both GNPA and NNPA ratios falling by 53 bps q-o-q and 9 bps q-o-q to 3.60% and 0.76% in Q4FY22.


Stock is currently trading at 2.7x/2.3x its FY2023E and FY2024E core ABV. We maintain a Buy rating on the stock with an unchanged price target of Rs. 970. With improving return ratios matrix, making it our preferred pick in the banking sector.


For all recommendations report, click here

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

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research
first published: Apr 25, 2022 11:00 pm
ISO 27001 - BSI Assurance Mark