Driven by a steady show during the June quarter of the financial year 2024-25 (Q1 FY25), analysts expect ICICI Bank stock to rerate in the months ahead with up to 19 per cent returns likely over the next 12 months.
On Saturday, ICICI Bank reported a standalone net profit of ₹11,059 crore in the June quarter, clocking a gain of 14.6 per cent yearon-year (Y-o-Y).
"ICICI Bank continues to deliver consistent performance even in seasonally weak quarters even as earnings volatility of its peers is rising.
Given the increasing quarterly earnings volatility and high loan-todeposit ratio (LDR) of most peer banks, ICICI Bank's premium to peers should expand further and the stock should rerate," said analysts at Nuvama Institutional Equities.
The brokerage retained its 'buy' rating on the stock with a target price of ₹1,450-up 19.4 per cent from Monday's closing price on the BSE.
ICICI Bank, the brokerage said, turned in strong earnings and outperformed on three key concerns plaguing its peers in Q1 FY25 asset quality, LDR and net interest margin (NIM).
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Denne historien er fra July 30, 2024-utgaven av Business Standard.
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