Stock To Buy: Shares Of This Multibagger Banking Stock Can Soar 27%: Axis Securities

Axis Securities has placed buy rating to ICICI Bank with a target price of Rs 1150 apiece. If you buy the stock of ICICI Bank now at the current market price of Rs 904, it can give potential return of up to 27%.

The last trading price of ICICI Bank is Rs 904 apiece. Its 52-week high is quoted at Rs 942 apiece and 52-week low is quoted at Rs 642 apiece, respectively. The stock witnessed a decline of 0.47% intraday. It has a market capitalisation of Rs 6,30,461.54 crore.

The stock has given multibagger returns to investors with 5-years return at 186%, 3-years return at 95%, and 1-year return at 13%. The stock has jumped 11% in last 3-months only.

ICICI Bank was incorporated in 1994.

The banking company for the quarter ended September 30, 2022 declared a consolidated total income of Rs 45178 crore, up 15% from last quarter total income of Rs 39,218 crore. It declared a net profit after tax at Rs 8006 crore in the latest quarter.

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 13,379 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 its official website.

The stock has been picked from the brokerage report of Axis Securities. 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.