Buy ICICI Bank, target price Rs 1150: Motilal Oswal Financial Services
ICICI Bank with a target price of Rs 1150. The current market price of ICICI Bank is Rs 986.8.
ICICI Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 688575.35 Crore).
ICICI Bank 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-2023.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 52084.00 Crore, down -3.41 % from last quarter Total Income of Rs 53922.75 Crore and up 32.81 % from last year same quarter Total Income of Rs 39218.33 Crore.
The bank has reported net profit after tax of Rs 10636.12 Crore in latest quarter.
Investment Rationale
Ahead of the new growth cycle, the bank is well-positioned with a superior margin, strong asset quality, and robust capitalization levels. The brokerage estimates ICICI Bank to deliver RoA/RoE of 2.2%/17.7% in FY25.
