ICICI not very expensive compared to previous cycle: Anish Damania

In a chat with ET Now, Anish Damania, Head-Institutional Equities, IDFC Securities, shares his views on the expectations from ICICI stocks.

ET Now: At Rs 1400, how would you map ICICI Bank?

Anish Damania: Looking at the entire matrix at this point of time, it is not about what is cheap or not. What the market is looking at is that the course of future events and there is a lot of expectation by the market on a stable government delivering in very quick time.

Probably, that is going to take some time but if the steps new government takes, are in the right direction, then these valuations could hold because it is not that it is very expensive when compared to in the previous cycle. It is trading at its average multiples thats why investors do not mind paying a little bit more.