ICICI Bank rallies over 3% post strong Q2 show: Should you buy, sell or hold?

Shares of  ICICI Bank are successful absorption successful Monday's league (October 28) aft the leading backstage sector lender released its quarterly numbers connected Saturday. Ahead of the results, the bank's shares ended 0.23 per cent higher astatine Rs 1,255.5 apiece connected the BSE.

For the Q2 period, the lender posted beardown fiscal show with standalone nett net climbing 14.5 per cent connected twelvemonth to Rs 11,746 crore during the reporting quarter. The backstage assemblage lender had earned a nett net of Rs 10,261 crore successful the aforesaid 4th of the erstwhile fiscal year. Zee Business probe estimated nett astatine Rs 10,952 crore. 

The nett involvement income (NII) astatine the lender besides grew 9.5 per cent to Rs 20,048 crore successful the reappraisal play arsenic against 18,308 crore successful Q2FY24. This metric that is the quality betwixt involvement earned and spent came successful amended successful examination to Zee Business estimates astatine Rs 19,931 crore.

What bash planetary brokerages suggest for ICICI Bank banal post-Q2 show?

Hong Kong-based planetary brokerage has continued with its óutperform' telephone connected the banal with the people raised to Rs 1,600 from the earlier Rs 1,500 per share. According to the brokerage, the lender delivered yet different dependable quarter. Furthermore, equilibrium sheet growth remained successful mid-teens, portion nett involvement borderline (NIM) moderated 5-10bps sequentially.

The PPOP oregon Pre-Provision Operating Profit grew faster than NII, driven by operating leverage, it added.

Meanwhile, Nomura besides suggested a 'buy' connected the banal with the people raised to Rs 1,575 from the earlier Rs 1,420. As per the brokerage, the slope reported a flawless 4th with beardown indebtedness and deposits growth. Also, plus prime show remained robust astatine the lender.

The brokerage has raised the lender's FY25-27F EPS estimates by 2-3 per cent, factoring successful little opex & somewhat little recognition cost.