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The Economic Times

Veer Sharma

ICICI Bank shares rise 3% after Q1 results. Why Bernstein and 4 other brokerages see up to 32% upside

ICICI Bank Bernstein Centrum JM Financial Motilal Oswal

Shares of ICICI Bank gained 3% to Rs 1,480 on the BSE on Monday after the private sector lender reported strong June-quarter earnings, with double-digit growth in profit and net interest income, supported by healthy loan growth and improved asset quality.

The bank posted a 15.9% year-on-year (YoY) rise in standalone net profit to Rs 14,805 crore for the June quarter, compared with Rs 12,768 crore in the corresponding period last year. Net interest income (NII) increased 12.7% YoY to Rs 24,384 crore from Rs 21,635 crore.

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