Brokerage houses are bullish about the shares of ICICI Bank and are giving investment advice. The target is on the stock, in that sense it can go up by 50 percent from the current price.
ICICI Bank Stock Price: At present, there is a situation of volatility in the stock market. This volatility may increase due to geopolitical tensions in the near term, but the long term outlook for the market is better. Data is getting better at the macro level. The country is on the path of economic recovery after recovering from the Corona epidemic. The banking sector will get its fallout in the coming days. Talking about the banking sector, the private bank sector is in a better position. If you are looking for a strong stock from this sector, then you can keep an eye on ICICI Bank. Brokerage houses are bullish about the shares of ICICI Bank and are giving investment advice. The target of the brokerage house on this, in that sense, it can go up by 50 percent from the current price.
better asset quality
Global brokerage house CLSA has given a buy rating on the stock of ICICI Bank. However, the brokerage house has cut the target price for the stock. The brokerage has now given a target of Rs 1050 for the stock, which was Rs 1125 earlier. The brokerage says that the asset quality of the bank is good and the growth outlook remains strong. The current price of the stock is Rs 702, so it can give 50 per cent return.
Profits better, faster disbursement
Brokerage house Sharekhan has also advised investment in ICICI Bank and has given a target of Rs 970. The brokerage house says that it is on the leading position in the private sector. Profits of all banks in the sector have improved and disbursement has also improved. There is strong growth in retail disbursement. Auto loan is also picked up. The brokerage expects that the corporate demand will also strengthen in the coming days due to the increase in working capital demand. The focus of the bank is on Core Operating Profit. Also, the target is to keep the credit cost at 25 per cent of the core operating profit. The customer base is strong, the position of the bank is also better in digital banking solutions. In such a situation, there is a good opportunity to invest in stocks that have become cheaper by about 18 to 20 percent from the record high.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
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