AgenciesNEW DELHI: shares on Thursday rose 2 per cent to hit a 52-week high of Rs 866.15. The stock of the private lender also crossed a market capitalisation of Rs 6 lakh crore for the first time.
ICICI Bank shares have rallied over 13 per cent in the last one month and around 24 per cent in the last one-year period. The bank stock, which is a consensus buy on Dalal Street, is India's sixth largest one worth more than , , and .
Last month, analysts were left impressed with the private lender's Q1 show in which it reported a 50 per cent year-on-year (YoY) rise in profit after tax (PAT) at Rs 6,905 crore compared with Rs 4,616 crore in the same quarter last year. The number beat the street estimates.
Its net revenue grew 20 per cent YoY to Rs 17,875 crore, aided by healthy other income and NIM (net interest margin) expansion. This is the fastest net revenue growth reported by a large private bank in Q1 so far.
Among global brokerages, CLSA has a BUY call with a target price of Rs 1,040 on ICICI Bank. Jefferies has set a target price of Rs 1,080. Morgan Stanley has an overweight rating with a target of Rs 1,040.
Trendlyne data shows that out of 40 analysts covering the stock, 35 have a 'strong buy' rating while the remaining call it a 'buy'. With zero sell rating, ICICI Bank's average share price target of Rs 981 suggests an upside potential of over 13 per cent.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
ICICI Bank shares have rallied over 13 per cent in the last one month and around 24 per cent in the last one-year period. The bank stock, which is a consensus buy on Dalal Street, is India's sixth largest one worth more than , , and .
Last month, analysts were left impressed with the private lender's Q1 show in which it reported a 50 per cent year-on-year (YoY) rise in profit after tax (PAT) at Rs 6,905 crore compared with Rs 4,616 crore in the same quarter last year. The number beat the street estimates.
Its net revenue grew 20 per cent YoY to Rs 17,875 crore, aided by healthy other income and NIM (net interest margin) expansion. This is the fastest net revenue growth reported by a large private bank in Q1 so far.
Among global brokerages, CLSA has a BUY call with a target price of Rs 1,040 on ICICI Bank. Jefferies has set a target price of Rs 1,080. Morgan Stanley has an overweight rating with a target of Rs 1,040.
Trendlyne data shows that out of 40 analysts covering the stock, 35 have a 'strong buy' rating while the remaining call it a 'buy'. With zero sell rating, ICICI Bank's average share price target of Rs 981 suggests an upside potential of over 13 per cent.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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