Buy ICICI Bank, target price Rs 495: Kotak Securities

Kotak Securities has buy call on ICICI Bank with a target price of Rs 495. The current market price of ICICI Bank Ltd. is Rs 492.3.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 339811.40 Crore).

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated Interest Income of Rs 14805.93 Crore, down -3.45 % from last quarter Interest Income of Rs 15335.70 Crore and down 2.18 % from last year same quarter Interest Income of Rs 15136.52 Crore. The bank reported net profit after tax of Rs 5426.33 Crore in latest quarter.


Investment Rationale
Doji star candlestick formation near the support area implying an up move.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of Sept 30, 2020, while FIIs held 55.6 per cent, DIIs 36.1 and public and others 8.3 per cent.