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BNP Paribas Securities Recommends Buying ICICI Bank with a Target Price of Rs 1230

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.

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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.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​
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