Buy ICICI Bank; target of Rs 1900: Prabhudas Lilladher
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Prabhudas Lilladher issued a buy rating for ICICI Bank with a target price of Rs 1900.
- ✓The bank saw a strong quarter with loan growth at 7.3 percent.
- ✓Experts said, "ICICIBC garnered sizable FCNR money, gaining a strategic advantage." Analysts raised the profit estimates for the bank by 5 percent.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Prabhudas Lilladher's research report on ICICI Bank ICICIBC saw a stellar quarter with 3.7% beat on core PPoP (HDFCB:in-line, AXSB:miss) due to better NII/fees as loan growth (ex-FCNR) was strong at 7.3% QoQ (AXSB-5.3%, HDFCB-3.4%). Post 10bps QoQ decline in NIM to 4.28%, it may further fall in Q3FY27 due to full FCNR impact. NIM may improve from Q4FY27 led by repo hike and liquidity utilization. Despite being NIM dilutive, ICICIBC garnered sizable FCNR money, gaining a strategic advantage, as substantial fixed-rate funding was mobilized to support future growth amid a rate hike cycle.
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