626.60 -9.10 (-1.43%)
1.5M NSE+BSE Volume
BSEJun 14, 2021 09:50 AM
The 63 reports from 16 analysts offering long term price targets for ICICI Bank Ltd. have an average target of 665.79. The consensus estimate represents an upside of 6.25% from the last price of 626.60.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2021-05-03||ICICI Bank Ltd. +||Ashika Research||596.75||720.00||596.75 (5.00%)||14.91||Buy|
|2021-04-29||ICICI Bank Ltd. +||Geojit BNP Paribas||600.50||723.00||600.50 (4.35%)||15.38||Buy|
Geojit BNP Paribas
Net interest income (NII) rose 16.9% YoY in Q4FY21, aided by 3.4% YoY growth in interest income and 8.3% YoY decline in interest expenses. Pre provision profit improved 15.6% YoY to Rs. 8,540cr, benefitted by lower employee costs. Net profit jumped ~3x YoY to Rs. 4,403cr, primarily on lower provisions (-51.7% YoY). Outlook remains intact on the back of strong deposit growth, significant lower cost of deposit. Also, improved asset quality with strong liquidity position provide strong base for growth. Hence, we reiterate our BUY...
|2021-04-28||ICICI Bank Ltd. +||Ventura||591.55||805.00||591.55 (5.93%)||28.47||Buy|
|2021-04-26||ICICI Bank Ltd. +||HDFC Securities||591.10||649.00||591.10 (6.01%)||Target met||Buy|
Mahindra & Mahindra Financial Services: MMFS reported an in-line operating performance, registering a NII/PPOP growth of 13.2%/9.4% YoY, with higher-than-expected NII (largely due to lower cost of funds) and operating expenditure having off-setting impacts. Disbursements were muted (-15% YoY, -5%QoQ) (CV/CE yet to pick up) and are likely to remain muted in 1QFY22 as well. The company reported higher-than-expected credit costs (4.7%), shoring up its GS-III provisions to 58% (3QFY21: 37%), bringing down its NNPA to 4% (3QFY21: 6.6%) on the RBI's advice. With likely muted pick up in disbursement and recovery amidst a second pan-India COVID wave, we have revised our FY22/23E earnings estimates lower by 17.8/6.8%. Relatively inexpensive valuations and MMFS' parentage-enabled access to funds underpin our ADD rating (revised TP of INR183) (implied valuation at 1.3x Mar'23 ABVPS). ICICI Bank: ICICI Bank (ICICIBC) clocked an impressive all-round performance across metrics demonstrating high-quality market share gains on both sides of the balance sheet, strong operating profits and a future-proofed balance sheet to capitalise on tailwinds from receding competitive intensity. On the back of rising granularity on both sides of the balance sheet, industry-leading technology initiatives for new-to-bank (NTB) business sourcing, ICICI Bank is poised to scale its 15% ROE and above-industry growth aspirations. Despite macro-headwinds stemming from the second wave of the pandemic, we see limited speedbumps in ICICI Banks continued journey towards high growth and superior profitability. Maintain BUY with revised SOTP price of INR649
|2021-04-26||ICICI Bank Ltd. +||Axis Direct||591.10||720.00||591.10 (6.01%)||14.91||Buy|
|2021-04-26||ICICI Bank Ltd. +||Prabhudas Lilladhar||621.35||700.00||621.35 (0.84%)||11.71||Buy|
moving to better rated assets, renewed underwriting & credit delivery and mining of existing franchise strength. This has led to strong loan & low cost deposit growth leading to better risk-adjusted led profitability. Asset quality has been steady with much low corporate stress, while strong growth in retail in last 2-3 years is seasoning the book which should continue ahead. Strong provision buffer of 100bps & PCR maintained at 77% should help credit cost normalize much faster leading to ROEs moving to 15% by FY23 from 13% currently. We retain BUY with revised TP of Rs700 (from Rs630) based on 2.2x...
|2021-04-26||ICICI Bank Ltd. +||SMC online||598.75||598.75 (4.65%)||Results Update|
ICICI Bank reported 260% surge in net profit at Rs 4402.61 crore for the quarter ended March 2021 (Q4FY2021). Bank has improved margins, while exhibited strong improvement in cost-toincome ratio in Q4FY2021. The net interest income of the bank has increased at improved pace of 17% with the acceleration in loan growth and better margins. The bank has also posted improved 6% growth in the core fee income for Q4FY2021. Bank has...
|2021-04-25||ICICI Bank Ltd. +||Motilal Oswal||591.10||750.00||591.10 (6.01%)||19.69||Buy|
Asset quality improves; higher prudential provisioning provides comfort ICICIBC reported strong performance on the business front, with loan growth showing robust trends across Retail, SME, and Corporate portfolio. Core operating performance remains robust even as muted fee income trends and treasury loss resulted in a PAT miss. On the asset quality front, controlled slippages of INR55b and healthy recoveries and upgrades resulted in QoQ improvement in GNPA/NNPA ratio to 4.96%/1.14% (v/s pro forma GNPA/NNPA ratio of 5.42%/1.26%)....
|2021-04-25||ICICI Bank Ltd. +||Edelweiss||569.95||735.00||569.95 (9.94%)||17.30||Buy|
|2021-04-25||ICICI Bank Ltd. +||LKP Securities||621.35||703.00||621.35 (0.84%)||12.19||Buy|
Earnings in 4QFY21 re-acknowledge our conviction that ICICI Bank is preparing for sustainable, prudent and cautious growth despite some exceptional glitches owing to COVID second wave. The bank has reported its 4QFY21 results with the key pointers being: 1) NII growth of 16.9% YoY, with headline NIMs (Domestic: 3.94% & Overall: 3.84%) growth of 17bps sequentially despite higher liquidity available (LCR: 146%). The bank has excluded 1.75bn from interest income as an estimated impact of interest on interest wavier, 2) PPoP growth of 15.6% YoY and de-growth of 3.2% sequentially because of lower fee income, 3) Reported slippages (118.2bn) higher because of resumption of asset classification. The gross slippages includes 82.8bn of pro-forma...
|2021-04-24||ICICI Bank Ltd. +||BOB Capital Markets Ltd.||591.10||675.00||591.10 (6.01%)||7.72||Buy|
|2021-04-01||ICICI Bank Ltd. +||Axis Direct||594.40||720.00||594.40 (5.42%)||14.91||Buy|
Based on the above themes we recommend the following stocks: ICICI Bank, SBI, Equitas SFB, Federal Bank, Bharti Airtel, HCL Tech, Tech Mahindra, Varun Beverages, Relaxo Footwears, Amber Enterprises, Camlin Fine Science, Minda Industries, Steel Strip Wheels. Lupin & ACC
|2021-03-30||ICICI Bank Ltd. +||Axis Direct||591.45||666.00||591.45 (5.94%)||6.29||Buy|
|2021-03-08||ICICI Bank Ltd. +||Edelweiss||608.05||676.00||608.05 (3.05%)||7.88||Buy|
|2021-02-03||ICICI Bank Ltd. +||Geojit BNP Paribas||614.15||697.00||614.15 (2.03%)||11.24||Buy|
Geojit BNP Paribas
NIM contracted by 10bps YoY to 3.67% in Q3FY21 dragged down by lower yield on advances. However, net interest income rose 16.0% YoY to Rs. 9,912cr supported by lower interest expense (-6.7% YoY). Pre-provisioning operating profit rose 16.8% YoY to Rs. 8,820cr, driven by lower employee costs, advertising and sales promotion expenses. Robust growth in advances, prudent cost control measures and strong asset quality should remain key drivers for ICICI Bank's future growth prospects. We reiterate our BUY rating on the stock with a revised...
|2021-02-02||ICICI Bank Ltd. +||SMC online||628.30||628.30 (-0.27%)|
ICICI Bank reported moderate 19% growth in net profit at Rs 4939.59 crore for the quarter ended December 2020 (Q3FY2021). Bank has improved margins, while exhibited strong improvement in cost-to-income ratio in Q3FY2021. The core fee income of the bank has also recovered significantly and recorded growth in Q3FY2021 after decline for last two quarters. Net interest income (NII) increased by 16% to Rs 9912 crore. NIM improved to 3.67% in...
|2021-02-01||ICICI Bank Ltd. +||HDFC Securities||603.80||625.00||603.80 (3.78%)||Target met||Buy|
IndusInd Bank: IIB witnessed better-than-expected P&L outcomes, largely on the back of stronger-than-expected NIMs and high PSL income. At 1.8% of loans, IIB reported one of the highest ratios of (potentially) restructured loans amongst its peers, which we believe will prolong the materialisation of stress. Further, the CCB* portfolio contributed disproportionately towards aggregate stress at ~40% of potential restructuring and pro forma slippages, indicating that the portfolio is yet to stabilise completely. With both sides of the balance sheet being re-engineered, we expect ROE normalisation to take longer and maintain our REDUCE stance with a target price of INR 749. DLF: DLF reported Revenue/EBITDA/APAT at Rs 15.4/5.0/4.5 bn, (8)/(9)/8% beat/(miss) on our estimates. Presales rebounded to Rs 10.2bn vs Rs 8.5bn QoQ. While office collection remains robust with +98% collections, occupancy declined to 94% from 97% on Sep 20-end. Retail is inching towards recovery with footfall at 60% and spending 70% of pre-pandemic level. Gradual recovery in presales, strong launch pipeline and REIT plans for DCCDL augur well for the company. We maintain BUY on DLF, with unchanged target price of Rs 320, given healthy balance sheet and change our FY21/FY22/FY23 EPS estimates by 4.2/0.5/0.6% to account for lower cost of debt. InterGlobe Aviation: IndiGo's operational performance continues to steadily improve as the airline operated at a 60% capacity in 3Q (vs. average capacity of 37% in 2Q). The airline reported an EBITDAR of Rs 9bn (vs. 2.8bn QoQ). Cash burn has further reduced to Rs 150mn/day (from Rs 250mn QoQ). We believe that IndiGo will...
|2021-01-31||ICICI Bank Ltd. +||LKP Securities||622.35||703.00||622.35 (0.68%)||12.19||Buy|
Earnings in 3QFY21 acknowledge our conviction that ICICI Bank is preparing for sustainable, prudent and cautious growth despite some exceptional hiccups owing to Covid. The bank has reported its 3QFY21 results with the key pointers being: 1) NII growth of 16.0% YoY, with headline NIMs (Domestic: 3.67% & Overall: 3.67%) growth of 10bps sequentially despite higher liquidity available (LCR: 146%), 3) PPoP growth of 16.8% YoY and 6.8% sequentially, 4) Lower reported slippages (4.7bn v/s 30.1bn) led by retail slippages (84% of total slippages), 5) NNPA further down 36bps to 1.26%; where pro-forma GNPA/NNPA ratio stood at 5.42%/1.26%, 6) PCR (excluding technical write-offs) improved 600bps to 86%, however the bank didn't include Covid & general provision...
|2021-01-31||ICICI Bank Ltd. +||Edelweiss||603.80||700.00||603.80 (3.78%)||11.71||Buy|
|2021-01-30||ICICI Bank Ltd. +||BOB Capital Markets Ltd.||603.80||675.00||603.80 (3.78%)||Target met||Buy|