Agencies Research has buy call on ICICI Bank with a target price of Rs 730. The current market price of ICICI Bank is Rs 599.25.
ICICI Bank Ltd, incorporated in the year 1994, is a banking company with a market cap of Rs 412608.11 Crore.
ICICI Bank's key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2020.
Investment Rationale
Emkay Research said, ICICI Bank’s better asset-quality performance/outlook while emerging from a once-in-a-centenary disruption like Covid-19 is a testament to its relatively resilient portfolio quality. That said, the bank remainsvigilant with a raging second wave of Covid and has built adequate provisioning/capital buffers to withstand any shocks.
Financials
ICICI Bank reported a 261 per cent year-on-year (YoY) rise in net profit at Rs 4,403 crore in the March quarter, compared with a profit of Rs 1,221.40 crore in the corresponding quarter last year. Net interest income (NII) for the quarter rose 17 per cent YoY to Rs 10,431 crore compared with Rs 8,927 crore in the year-ago quarter. Non-interest income, excluding treasury income, stood at Rs 4,137 crore 2021, up 3.08 per cent over 4,013 crore in the year-ago quarter.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company , FIIs held 58 per cent, DIIs 34.3 per cent and public and others 7.7 per cent.
ICICI Bank Ltd, incorporated in the year 1994, is a banking company with a market cap of Rs 412608.11 Crore.
ICICI Bank's key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2020.
Investment Rationale
Emkay Research said, ICICI Bank’s better asset-quality performance/outlook while emerging from a once-in-a-centenary disruption like Covid-19 is a testament to its relatively resilient portfolio quality. That said, the bank remainsvigilant with a raging second wave of Covid and has built adequate provisioning/capital buffers to withstand any shocks.
Financials
ICICI Bank reported a 261 per cent year-on-year (YoY) rise in net profit at Rs 4,403 crore in the March quarter, compared with a profit of Rs 1,221.40 crore in the corresponding quarter last year. Net interest income (NII) for the quarter rose 17 per cent YoY to Rs 10,431 crore compared with Rs 8,927 crore in the year-ago quarter. Non-interest income, excluding treasury income, stood at Rs 4,137 crore 2021, up 3.08 per cent over 4,013 crore in the year-ago quarter.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company , FIIs held 58 per cent, DIIs 34.3 per cent and public and others 7.7 per cent.
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