Emkay Global Financial Services, a leading financial services company, has recommended a buy call on ICICI Bank with a target price of Rs 1250. Currently, the market price of ICICI Bank is Rs 842.85. ICICI Bank, which was incorporated in 1994, is a banking company with a market cap of Rs 586,453.78 crore.
ICICI Bank’s key revenue segments include interest and discount on advances and bills, income from investment, interest on balances with RBI, and other inter-bank funds for the year ending 31-Mar-2022.
The bank has reported a consolidated total income of Rs 47,859.50 crore for the quarter ended 31-Dec-2022, which is up 5.93% from the previous quarter’s total income of Rs 45,178.22 crore and up 20.05% from the same quarter of the previous year, with a total income of Rs 39,865.80 crore. The bank has reported a net profit after tax of Rs 9538.82 crore in the latest quarter.
It is worth noting that as of 31-Dec-2022, the Promoters held a 0 percent stake in the company, while FIIs owned 45.11 percent and DIIs owned 44.09 percent. This indicates a higher level of a foreign institutional investor (FII) and domestic institutional investor (DII) interest in the company.
Emkay Global Financial Services’ target price of Rs 1250 suggests a potential upside of around 48% from the current market price of Rs 842.85. This recommendation reflects the company’s strong financial performance and growth potential, as well as the favorable institutional investor ownership structure. Investors should consider these factors before making investment decisions.
|Current Price||Rs 842.85|
|Target Price||Rs 1250|
Broker reports provide analysis and recommendations based on the current market conditions and financial performance of a particular company. These reports often include target prices and buy, sell, or hold recommendations based on the analyst’s assessment of the company’s potential for growth and profitability.