Buy ICICI Bank, target Rs 385: Sacchitanand Uttekar

Sacchitanand Uttekar of Tradebulls Securities Private Limited has a buy call on ICICI Bank Ltd. with a target price of Rs 385. The current market price of ICICI Bank Ltd. is Rs 375.1. Time period given by the analyst is Intra Day when ICICI Bank Ltd. price can reach the defined target. Sacchitanand Uttekar recommended to keep stoploss at Rs 371. ICICI Bank Ltd., incorporated in 1994, has a market cap of Rs 241578.77 crore.

ICICI Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 40866.21 Crore to Sales Value (74.34 % of Total Sales), Income From Investment which contributed Rs 11568.17 Crore to Sales Value (21.04 % of Total Sales), Interest which contributed Rs 1868.14 Crore to Sales Value (3.39 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 663.38 Crore to Sales Value (1.20 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 31-03-2018, the company has reported a Consolidated Interest Income of Rs 11310.56 Crore, up 4.27 % from last quarter Interest Income of Rs 10846.94 Crore and up 6.85 % from last year same quarter Interest Income of Rs 10585.33 Crore. The bank has reported net profit after tax of Rs 1470.92 Crore in latest quarter.