ICICI Bank stock check: Amidst PSU banks spotlight, why experts still prefer this private sector lender?
ICICI Bank maintains its status as a preferred choice for investors and analysts alike, thanks to its strong fundamentals, robust growth prospects, and adept management. Let's take a look at the fundamental and technical outlook for the stock in the long term. Why is it still a good buy? Here's what experts say.
Read here: Tata Motors Stock Check: How does the demerger impact its fundamental and technical outlook for long term? ICICI has been giving strong returns in the last one year, jumping over 27 percent as against a 17 percent rise in Nifty Bank. Meanwhile, it has also outperformed its benchmark in 2024 YTD, gaining over 9 percent versus an over 3 percent fall in Nifty Bank. The lender remains the best-performing private bank this year and the only private sector lender in the Nifty Private Bank index to have given positive returns in 2024 YTD.
The stock has added 3.5 percent in March so far, extending gains for the fifth straight month since November 2023. Between November 2023 and March 2024, the stock has gained 19 percent. It has risen almost 3 percent in February as well as January 2024.
Meanwhile, it jumped 6.6 percent in December 2023 and 2.1 percent in November 2023. Read here: BSE shares jump 8% after Investec upgrades stock to ‘Buy’, sees 38% upside Currently trading at ₹1084.85, the stock is just 2.5 percent away from its all-time high of ₹1,113.35, hit earlier this month on March 6, 2024. Meanwhile, it has advanced 18.5 percent from its 52-week low of ₹844.25, hit on March 27, 2023.
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