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Buy ICICI Bank; target of Rs 442: HDFC Securities


HDFC Securities is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 442 in its research report dated June 29, 2020.

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HDFC Securities' research report on ICICI Bank

ICICIBC has realised ~Rs 31bn in 1QFY21 so far, from stake sales in ICICIGI (Rs 22.5bn) & IPRU (Rs 8.4bn) while retaining majority stakes. The move bolsters the bank’s already strong capital base (16.1%, +40bps) and allows it to make further COVID-19 related provisions, while limiting the RoAE impact. This demonstrates its ability to augment its ...


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