ICICI Bank: share price touched a 52-week high of Rs 835 in early trade and also latterly got locked in 10 percent upper circuit, intraday on October 25 after the company reported healthy figures in the quarter ended September 2021 ICICI Bank on October 23 recorded profit after duty of Rs crore for the September 2021 quarter, adding significantly compared to Rs crore in the matching period former financial Net interest income, the difference between interest earned and interest charges, has grown to Rs crore in Q2FY22, against Rs crore with double number loan growth.
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Then’s what brokerages have to say about the stock and the company post September quarter earnings The exploration establishment has kept outperform call. It raised the target price to Rs 900 and also raised FY22-24 EPS estimates by 6-9 on stronger NIMs The rising core profitability coupled with lower credit costs drive up the RoE, while CET remains strong at> 17 & will allow for uninterrupted growth Credit Suisse anticipate credit cost to normalise & RoE rise to 15.
Goldman Sachs
Research house has maintained buy call and raised the target to Rs 829 from Rs 773 after company’s PAT was in- line, while underpinning quality & unborn visibility were better It increases FY22-24 profit estimates by over to 5 after bank delivered a return on means of1.8 this quarter The company is set to achieve RoA at near to 2 & RoE of16.5 over FY23-25.
CLSA
Broking house CLSA has maintained buy call and raised the target price to Rs from Rs as bank now constantly delivering sector-stylish growth The recent asset quality trends indicate credit costs will probably undershoot. With farther 3-5 earnings upgrade, it anticipate return on threat-weighted means.
Morgan Stanley
The brokerage house has kept fat call and raised the target to Rs from Rs 900 as company remains a top pick.
The net disabled loan conformation dropped sprucely & core PPoP was a surprised. The traction on colorful digital enterprise remains strong.
Motilal Oswal
ICICI Bank reported a strong 2QFY22, led by strong core PPOP performance, controlled vittles, and robust asset quality, with NNPA rate ( lower than 100bp) at the smallest position since Dec’14 The bank is seeing a strong recovery in business trends across crucial parts similar as Retail, SME, and Business Banking. The Retail and Rural member is showing robust trends, barring Commercial Vehicles On the asset quality front, slippages have moderated, and the operation expects 2HFY22 to be much better. Provision content 80 remains the stylish in the assiduity We maintain our steal standing with a revised SoTP- grounded target price of Rs/ share (2.8 x Sep’23E ABV for the bank). ICICI Bank remains our top pick in the sector.
Elara Capital
Back to back strong earnings over the last four diggings give us the confidence that strong traction in loans, NIM, freights is sustainable We increase earnings by 11-13 and revise our target multiple to 3x from2.8 x. Our new target price is Rs We anticipate RoA of1.9 in FY23E for ICICI Bank versus1.8 in Q2FY22. With strong traction in earnings, concentrate on grainy growth and perfecting digital footmark, we anticipate the stock tore-rate to 3x PBV.
LKP Research
We anticipate its loan book to grow cautiously at CAGR of 16 over FY21-23E, led by balanced growth across member. In our opinion, the bank’s credit cost will normalise by FY22E and estimate return rate ROA/ ROE of1.6 and13.6 in FY22E We value the standalone reality with3.4 xFY23E BVPS (Rs 267) and of investment in accessories and JVs (Rs 113 per share); we arrive at a revised target price of Rs (Rs 780 earlier). We recommend buy standing with a implicit downside of 34 At 1027 hrs ICICI Bank was quoting at Rs835.00, up Rs75.90, or 10 percent on the BSE Disclaimer The below report is collected from information available on public platforms.Moneycontrol.com advises druggies to check with pukka experts before taking any investment opinions.
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