ICICI Bank hits 10-month high, nears 52-week high on robust growth prospect

ICICI Bank's likely strong delivery on growth, asset quality and return ratios, despite the Covid-19-induced disruption, will call for a re-rating, say analysts

Shares of ICICI Bank hit a 10-month high of Rs 538, up 2 per cent, on the BSE on Thursday in an otherwise range-bound market on expectation of higher growth going forward.

Stock of the private sector lender was trading at its highest level since February. Moreover, it is 2 per cent away from its 52-week high level of Rs 550 touched on February 2, 2020. In comparison, the S&P BSE Sensex was up 0.19 per cent at 47,837 points at 01:51 pm. Most the brokerages have upbeat outlook on the bank and have 'buy' rating with the target price (TP)