ICICI up, HDFC down after Q4 show; analysts positive on both
ICICI Bank shares saw a rise on Monday, while HDFC Bank shares experienced a fall. This happened even as both banks reported fourth-quarter earnings that met expectations. Analysts remain positive on both lenders. Investor positioning appears to b...
By ET Bureau |
Agencies
All analysts covering HDFC Bank have a 'Buy' rating, while 96% of those on ICICI Bank recommend the stock, according to Bloomberg data.
Mumbai: Shares of ICICI Bank rose while HDFC Bank declined on Monday, despite both lenders reporting fourth-quarter earnings broadly in line with expectations, underscoring a divergence in near-term investor positioning.
ICICI Bank gained 0.7% to close at ₹1,356.2, while HDFC Bank fell 0.6% to ₹795.45. The Nifty 50 ended little changed at 24,364.85. near-term investor views diverge But most analysts say shares of the private banking leaders are poised to make further gains Analysts remain positive on both. Bloomberg consensus implies an average upside of about 33% for HDFC Bank and 24% for ICICI Bank.
HDFC Bank's 12-month average target price was trimmed to ₹1,056.3 from ₹1,100.72, even as HSBC, JP Morgan and Nomura raised their estimates post-results, while Citi lowered its target but retained a 'Buy'. ICICI Bank's average target edged up to ₹1,680.02.
All analysts covering HDFC Bank have a 'Buy' rating, while 96% of those on ICICI Bank recommend the stock, according to Bloomberg data.
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