ICICI Bank: Analysts remain bullish despite near-term challenges

Despite the near-term concerns, analysts remain positive on the road ahead for the Bank as most of its businesses are doing well.

The recent turn of events at ICICI Bank has dented sentiment with most analysts turning cautious on the stock from a near-term perspective. Also, with investigative agencies entering the picture, they believe, the loan disbursement process at the bank can also come under scrutiny. All this, they feel, will remain a near-term overhang for the stock.

The scrip tumbled nearly six per cent on Monday to Rs 262 levels, its biggest single-day drop in three years amid Central Bureau of Investigation (CBI) initiating a preliminary enquiry into alleged links between the bank’s Chief Executive Officer (CEO) Chanda Kochhar and the