ICICI Bank continues to be our preferred pick and is among the best plays on the improving trend in asset-quality issues. Revival of earnings growth and improvement in advances book and return ratios (ROEs to improve to 15% in FY2022E from ~3% in FY2019A) are key re-rating triggers for the stock. In this note, we have introduced FY2022E earnings estimates and are accordingly rolling over our price target (PT) on FY2022E book value estimates. We retain our Buy rating on the stock with a revised PT of Rs. 630 (2.3x its standalone...