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ICICI Bank gains 6% ahead of December quarter results

The stock moved higher by 6% to Rs 368 on BSE on the back of heavy volumes.

ICICI bank
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SI Reporter Mumbai
Shares of ICICI Bank moved higher by 6 per cent at Rs 368 apiece on BSE on hopes of strong earnings in October-December quarter (Q3FY19). The private sector bank is scheduled to announce its Q3 results after market hours today.

Analysts expect ICICI Bank to report strong results for Q3 quarter, thereby supporting further re-rating.

“We increase target price on ICICI Bank to Rs 415 (from Rs 365) as we increase our multiple to 1.8x from 1.6x Sep-20 ABV & SoTP, mainly as we see this business cycle will lead to higher multiples unlike last two cycles which had

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First Published: Jan 30 2019 | 2:55 PM IST

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