Morgan Stanley believes the share price of ICICI Bank will rise relative to the industry over the next 30 days,
ICICI Bank will outperform its industry peers over the next 30 days, according to Morgan Stanley. ICICI Bank's share price rose over 3 percent today.
Recommended ArticlesView All
New Locker Rules — Here's why the RBI has gone overboard
Jan 28, 2023 IST5 Min(s) Read
Meet Padma Shri Awardee Guru K Kalyanasundaram Pillai, the man who is keeping an ancient tradition alive
Jan 27, 2023 IST3 Min(s) Read
This is how the new draft IT rules propose to make online gaming safe
Jan 27, 2023 IST4 Min(s) Read
78 percent Indian workers uneasy about job security amid layoffs: Survey
Jan 27, 2023 IST5 Min(s) Read
According to the brokerage, the asset quality pressures/ provisioning is behind the bank, and the normalization of return on equity (RoE) will be quick from March-June 2019 quarter. It also says that the large banks in India are well-positioned to gain market share as NBFCs are struggling to grow.
Morgan Stanley maintains “overweight” on ICICI Bank at a price target of Rs 525 per share.
Morgan Stanley also takes its two listed subsidiaries i.e. ICICI Prudential Life Insurance and ICICI Lombard General Insurance into consideration. The brokerage has valued ICICI Pru at Rs 595 bn, implying Rs 49/share, and valued ICICI Lombard General Insurance at US$5.6 bn.
Rahul Shah from Motilal Oswal gives out "buy" rating for ICICI Bank. He says, "One of the stocks which look good are right now is ICICI Bank. We have seen this stock move up continuously, even in the bad days, the stock is able to hold on to its gains. Thus, it is my sense that there is a long build-up and technical breakout with good volumes in ICICI Bank."