Bullish on ICICI Bank: Gaurang Shah, VP, Geojit BNP Paribas Financial Services
With a 12-month plus time horizon, we are working with a target of about 1250. We do remain optimistic on the entire private sector banking lot, says Shah.
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In a chat with ET Now, Gaurang Shah, VP, Geojit BNP Paribas Financial Services, shares his recommendations on Banking stocks. Excerpt:
ET Now: What did you make of some of the earnings that came out particularly ICICI Bank?
Gaurang Shah: I am not surprised with minor uptick in the NPA side. We have seen that happening after a long time and first time in the private sector banks, public sector banks have been suffering with this problem for a long time.
Since the numbers were in line with expectation, there has not been any major reaction on the stock. It has been marginally in the green. We hold out our view with a positive coverage on ICICI Bank.
With a 12-month plus time horizon, we are working with a target of about 1250. We do remain optimistic on the entire private sector banking lot.
ET Now: What did you make of some of the earnings that came out particularly ICICI Bank?
Gaurang Shah: I am not surprised with minor uptick in the NPA side. We have seen that happening after a long time and first time in the private sector banks, public sector banks have been suffering with this problem for a long time.
Since the numbers were in line with expectation, there has not been any major reaction on the stock. It has been marginally in the green. We hold out our view with a positive coverage on ICICI Bank.
With a 12-month plus time horizon, we are working with a target of about 1250. We do remain optimistic on the entire private sector banking lot.
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