Asset quality stress remained elevated. Fresh slippages stayed elevated at | 5527 crore, led by ~| 1400 crore towards corporate exposure, | 1200 crore related to small ticket loans. No loan was restructured under 5/25 scheme. Two accounts worth ~| 500 crore, were restructured as per SDR. Absolute GNPA increased to | 42992 crore (11.15% of loans) from | 40521 crore (9.99%) in Q4FY16. Standard restructured book was at | 14164 crore, forming ~3.7% of total loans. With increase in PAT estimate, ICICI Securities Limited revise the target price higher to | 152/share, keeping our target multiple stable at 1.3x FY18E ABV. The management outlook of bringing RoE to >10% in next two years, upfront recognition of NPA pain and healthy tier I ratio of 10.7% provide comfort.They maintain HOLD recommendation.