Buy ICICI Bank with a target of Rs 295: Nirmal Bang Securities

Nirmal Bang Securities has Buy call on ICICI Bank Ltd. with a target price of Rs 295.0 .The current market price of ICICI Bank Ltd. is 290.95 Time period given by analyst is Intra Day when ICICI Bank Ltd. price can reach defined target. Nirmal Bang Securities recommended to keep stoploss at Rs 284.0 .

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of ₹ 164026.86 Cr.).

ICICI Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed ₹ 38943.15 Cr to Sales Value (73.84 % of Total Sales), Income From Investment which contributed ₹ 10625.35 Cr to Sales Value (20.14 % of Total Sales), Interest which contributed ₹ 3012.69 Cr to Sales Value (5.71 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed ₹ 158.24 Cr to Sales Value (0.30 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 31-03-2016, the company has reported a Consolidated Interest Income of ₹ 10706.35 Cr., up 1.72 % from last quarter Interest Income of ₹ 10525.51 Cr. and up 7.27 % from last year same quarter Interest Income of ₹ 9980.34 Cr. The bank has reported net profit after tax of ₹ 599.16 Cr. in latest quarter.