Buy ICICI Bank, target price Rs 875: Chandan Taparia

Buy ICICI Bank, target price Rs 875: Chandan Taparia
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Synopsis

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 583081.67 Crore).

Agencies
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 43.54 per cent, DIIs 45.33 per cent.
Chandan of has buy call on . with a target price of Rs 875. The current market price of ICICI Bank Ltd. is Rs 838.4. Time period given by analyst is Intra Day when ICICI Bank Ltd. price can reach defined target.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 583081.67 Crore).

ICICI Bank Ltd. 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-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 39218.33 Crore, down -8.44 % from last quarter Total Income of Rs 42834.06 Crore and up .94 % from last year same quarter Total Income of Rs 38852.60 Crore. The bank reported net profit after tax of Rs 8011.85 Crore in latest quarter.

Investment Rationale
Price volume breakout on daily frame making higher highs – higher lows from the last seven sessions.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 43.54 per cent, DIIs 45.33 per cent.
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