For the past few months, there has been a huge sell-off in the shares of private sector ICICI Bank. However, now according to experts, investors are going to get strong returns in the bank’s stock. Along with this, the stock has been given ‘Buy’ rating.
What experts have to say: The Yes Securities report said that the share price of the bank can go up to the level of Rs 1043 in the long term. The share price of the bank is at a level of Rs 736 in the trading of April 27 on NSE. From this perspective, investors can expect a profit of more than Rs 300 per share. According to Yes Securities, the stock of the bank can register a growth of around 40 percent from the current levels in the long term.
How much fall in the stock: Let us tell you that in the last 6 months, the bank’s stock has fallen by more than 11 per cent, while it has fallen almost 4 per cent year-on-year. The low level of this stock is Rs 584.75, which went in the month of May last year. The share price was at the highest level of Rs 859.70 on 25 October 2021.
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Other experts have the same opinion: Most analysts tracking the stock expect the stock to rise up to 45 per cent in the next 12 months. According to Raj Jha of Edelweiss Wealth, the share price can go up to the level of Rs 945. On the other hand, analysts at Axis Securities said we have a buy call on the bank with a revised target price of Rs 1,000. Similarly, LKP Securities has a target of Rs 1,037.