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Wednesday, October 27, 2021

ICICI Bank: By investing in shares, you can get 42% return, after record profits, brokerage became a choice

ICICI Bank Stocks: ICICI Bank shares are seeing a sharp rise today after the results of the second quarter of FY 2021. In today’s business, ICICI Bank shares rose nearly 6 percent to Rs 418.50. Whereas it closed at Rs 392 on Friday. ICICI Bank’s profit in the second quarter increased 6-fold on an annual basis. The bank has also performed well in the rest of the segment, indicating a recovery from the challenges of lockdown. Most brokerage houses have advised to invest in the bank’s stock after the quarterly results.

Record profits

ICICI Bank made a profit of Rs 4,251.3 crore in the second quarter. This is 6 times more than the year-ago quarter. The bank had a profit of Rs 655 crore in the second quarter of the last financial year. Net interest income increased by 16.2 per cent to Rs 9,366.1 crore from Rs 8,057.4 crore in the year-ago period. Netrest margin was 3.57 percent on quarterly basis as against 3.69 percent.

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Improvement in asset quality

The asset quality of ICICI Bank has also improved. Net NPAs have come down to 1 percent in the second quarter. Net NPA was 1.23 percent in the June quarter. Whereas the net NPA was 1.60 per cent in the same quarter a year ago. Gross NPAs fell to 5.17 per cent in the second quarter from 5.46 per cent in the June quarter. Whereas gross NPA was 6.37 per cent in the same quarter a year ago.

Increased bank deposit

In the second quarter, bank deposits grew by 20 per cent year-on-year to Rs 8,32,936 crore. Domestic loan growth has increased by 10 per cent on an annual basis. There has been a 13 percent growth in retail loans.

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How much return can I get?

Motilal Oswal

Rating: Buy
Target: Rs 525
CMP: Rs 392
Return Estimate: 34 percent

CLSA

Rating: Buy
Target: Rs 560
CMP: Rs 392
Return Estimate: 42 percent

Citi

Rating: Buy
Target: Rs 550
CMP: Rs 392
Return Estimate: 40%

Sharekhan

Rating: Buy
Target: Rs 525
CMP: Rs 392
Return Estimate: 34 percent

Nomura

Rating: Buy
Target: Rs 525
CMP: Rs 392
Return estimate: 34 percent

(Note: We have given information here based on the quarterly results of the company and the opinion of the brokerage house on the stock. See the opinion of experts before investing, given the market risk.)

Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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