Hold ICICI Bank; target of Rs 284: Reliance Securities

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Reliance Securities' research report on ICICI Bank

ICICI Bank continued to report a subdued performance on operating and business growth front in 1QFY18. Its operating profit declined by 0.6% YoY and grew by mere 1.4% QoQ to Rs51.8bn due to subdued sequential growth in NII (+8.4% YoY & -6.2% QoQ to Rs55.9bn) and core fee income (+10.3% YoY & -2.8%QoQ to Rs23.8bn). On sequential comparison, the Bank’s loan book growth remained flat on the back of 6.3%, 4.4% and 1.9% QoQ decline in SME, international and domestic corporate loan book, respectively.

Outlook

Hence, we maintain our HOLD recommendation on the stock with a revised Target Price of Rs284 (valuing parent at 1.5x FY19 Adj. BV and valuing subsidiaries at Rs71 after 15% holding company discount).

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.

Read More