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ICICI Bank rides high on improved investor sentiment

Ramp-up of retail franchise, gains from subsidiaries' sale may cushion incremental provisioning

Hamsini Karthik 

From a year ago, when over half of the analysts tracking the ICICI Bank stock were cautious, a lot has changed in its favour. As of June 1, over 85 per cent recommend ‘buy’ on the stock, suggesting that optimism for the bank is higher now than a year ago.  With this, the gap between the number of ‘buy’ calls on ICICI Bank is not too different from that of HDFC Bank. The ICICI Bank stock hit a fresh 52-week high on Thursday, reflecting the Street’s confidence about the bank’s prospects.  The reason for the optimism is ICICI ...

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ICICI Bank rides high on improved investor sentiment

Ramp-up of retail franchise, gains from subsidiaries' sale may cushion incremental provisioning

From a year ago, when over half of the analysts tracking the ICICI Bank stock were cautious, a lot has changed in its favour. As of June 1, over 85 per cent recommend 'buy' on the stock, suggesting that optimism for the bank is higher now than a year ago. With this, the gap between the number of 'buy' calls on ICICI Bank is not too different from that of HDFC Bank. The ICICI Bank stock hit a fresh 52-week high on Thursday, reflecting the Street's confidence about the bank's prospects. The reason for the optimism is ICICI Bank's ability to rapidly expand its retail business - on the deposit and lending sides. From contributing 46 per cent to the loan book in FY16, the share of retail loans increased to 52 per cent on March 31, 2017. A stable expansion of the bank's mainstay retail product - home loans, up 18 per cent year-on-year in the March 2017 quarter is a positive. Vehicle finance, the next big retail portfolio, also complimented growth. Even the smaller (but unsecured) products, . From a year ago, when over half of the analysts tracking the ICICI Bank stock were cautious, a lot has changed in its favour. As of June 1, over 85 per cent recommend ‘buy’ on the stock, suggesting that optimism for the bank is higher now than a year ago.  With this, the gap between the number of ‘buy’ calls on ICICI Bank is not too different from that of HDFC Bank. The ICICI Bank stock hit a fresh 52-week high on Thursday, reflecting the Street’s confidence about the bank’s prospects.  The reason for the optimism is ICICI ... image
Business Standard
177 22

ICICI Bank rides high on improved investor sentiment

Ramp-up of retail franchise, gains from subsidiaries' sale may cushion incremental provisioning

From a year ago, when over half of the analysts tracking the ICICI Bank stock were cautious, a lot has changed in its favour. As of June 1, over 85 per cent recommend ‘buy’ on the stock, suggesting that optimism for the bank is higher now than a year ago.  With this, the gap between the number of ‘buy’ calls on ICICI Bank is not too different from that of HDFC Bank. The ICICI Bank stock hit a fresh 52-week high on Thursday, reflecting the Street’s confidence about the bank’s prospects.  The reason for the optimism is ICICI ...

image
Business Standard
177 22