BNP Paribas Securities has issued a “buy” recommendation on ICICI Bank with a target price of Rs 1230. As of now, the current market price of ICICI Bank Ltd. stands at Rs 925.4. ICICI Bank Ltd., established in 1994, is a significant banking company with a market capitalization of Rs 648,519.53 Crore.
ICICI Bank Ltd.’s primary revenue segments encompass Interest & Discount on Advances & Bills, Income From Investment, Interest, and Interest On Balances with RBI, along with Other Inter-Bank Funds. For the quarter ending on June 30, 2023, the bank reported a consolidated total income of Rs 52,084.00 Crore. While this represents a -3.41% decrease compared to the previous quarter, it reflects a substantial 32.81% growth compared to the same quarter in the previous year. In the latest quarter, the bank reported a net profit after tax of Rs 10,636.12 Crore.
As of June 30, 2023, the promoters of ICICI Bank Ltd. held a 0% stake in the company, while foreign institutional investors (FIIs) owned 44.53%, and domestic institutional investors (DIIs) held 44.9%.
Investors interested in ICICI Bank Ltd. may find valuable insights in BNP Paribas Securities’ “buy” recommendation, which comes with a target price of Rs 1230. This recommendation could prove beneficial for individuals making investment decisions related to ICICI Bank.