Best Stocks to Buy Today : IIFL Securities's call on Icici Bank - June 25

IIFL Securities recommends buying shares of ICICI Bank with a target price of Rs 1220, implying a potential upside of around 3.5%. The brokerage firm cites the bank's strong balance sheet, healthy credit growth, and robust fee income as key reasons for its bullish stance. At the time of the recommendation, ICICI Bank's market price stood at Rs 1178, indicating a potential profit opportunity for investors who follow IIFL's advice.

About Icici Bank:

ICICI Bank Ltd. is a leading private sector bank in India with a pan-Indian presence and a global footprint. Established in 1994 as the Industrial Credit and Investment Corporation of India, it transformed into a full-fledged commercial bank in 2002. Known for its retail banking services, ICICI Bank offers a comprehensive range of financial products and services to individuals, businesses, and institutions. With over 5,000 branches, 14,000 ATMs, and a large digital platform, the bank caters to over 100 million customers. ICICI Bank has a strong international presence in 15 countries, including the UK, USA, Canada, and Dubai. The bank's focus on innovation and technology has driven its growth and established it as one of the most respected financial institutions in India.

52 Week Price Trend:

ICICI Bank (NSE: ICICIBANK) has experienced substantial growth over the past year, with its current market price (CMP) at Rs 1178.50 showing a significant increase from its 52-week low of Rs 810.30. This represents an impressive upside of over 45%. While the stock has not reached its 52-week high of Rs 1070 yet, its consistent upward trend suggests that it may continue to gain momentum in the future. Investors should keep a watchful eye on the bank's performance and market sentiment to make informed investment decisions.

Stratzy's MOST Analysis:

ICICIBANK has received an AAA rating from Stratzy's MOST framework, indicating exceptionally low fundamental risks. This rating is based on an evaluation of the company's management, outlook, safety, and trend. ICICIBANK has demonstrated strong management capabilities, a positive business outlook, robust safety measures, and a consistent upward trend, resulting in the highest possible rating under the MOST framework.

Company's Fundamentals:

ICICI Bank, listed on the NSE with the symbol "ICICIBANK," has a current stock PE (Price-to-Earnings) ratio of 17.43, indicating that its share price is 17.43 times its earnings per share. The bank's PB (Price-to-Book) ratio of 3.43 suggests that its market price is 3.43 times its book value per share. Furthermore, ICICI Bank offers a Dividend Yield of 0.76%, which is the annual dividend per share expressed as a percentage of the current share price, indicating that it pays out a portion of its profits to shareholders as dividends.

Fundamental and Technical information provided in this blog were last updated on 25 Jun, 2024

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