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Motilal Oswal Has Buy Rating For This Large Cap Multibagger Banking Stock, Target Price 1100
Motilal Oswal has assigned buy rating for large cap banking stock, ICICI Bank Ltd with a target price of Rs 1100. ICICI Bank has a market capitalisation of Rs 6,52,511.49 crore. The banking stock has given multibagger returns in the last 5-years. Check key takeaways below:
1. ICICI Bank Ltd Stock Performance
The last trading price of the stock is Rs 935 apiece with an intraday surge of 0.64% on BSE. The stock's 52-week high is Rs 942 apiece and 52-week low is Rs 642 apiece, respectively.
2. ICICI Bank Ltd Return
The stock has jumped 198% in last 5-years, 80% in last 3-years, 30% in last 1-year, and 27% in last 6-months. The shares of the banking stock has surged 8% in last 3-months, 3% in last 1-month and nearly 2% in last 1-week.
3. Motilal Oswal On ICICI Bank Ltd
According to Motilal Oswal, "The bank is emerging as a new growth leader in the SME and Retail segments, aided by continued investments in technology and partnerships with new ecosystem players. We expect a 20% loan CAGR over FY22-24 for the bank."
4. About ICICI Bank
ICICI Bank is a leading private sector bank in India. The Bank's total assets stood at ₹ 14,15,581 crore at June 30, 2022. ICICI Bank currently has a network of 5,534 branches and 13,222 ATMs across India. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary.
ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its group companies, according to the official website of the bank.
Disclaimer
The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
