ICICI Bank shares hit fresh high post strong Q2 earnings: Buy, Sell or Hold? Brokerages tag BUY - check price targets

ICICI Bank Share Price NSE, BSE: Shares of ICICI Bank continued to rally on Tuesday with the scrip hitting a fresh all-time high of Rs 943.25 at the NSE and Rs 942.70 at the BSE. In the past five days, the counter has given a positive return of over 4 per cent. This is apparently because the lender delivered strong results in the quarter that ended September 30, 2022 (Q2-2023). 

While the company's core operating profit grew by 24 per cent year-on-year to Rs 11,765 crore, profit after tax grew by 37 per cent. 

ICICI Bank Share Price Target 2022

Several brokerage houses remain positive on ICICI Bank and have maintained 'Buy' call on the bank stock. Most of them have even raised their target. 

HSBC Broking has maintained a 'Buy' call on ICICI Bank and raised the target to Rs 1,100 from Rs 1,020. Similarly, Morgan Stanley has maintained an 'overweight' rating on ICICI Bank and has set a share price target of Rs 1,250.

Goldman Sachs, Citi and CLSA have also maintained a 'Buy' call on ICICI Bank with new target prices of Rs 1,075 , Rs 1,080 and Rs 1,200.

ICICI Bank shares have gained  21.49 per cent so far this year. This is much better when compared to about 0.51 rise in the broader Nifty50 during the period. Similarly, the scrip has outperformed by gaining 21.63 per cent on the BSE so far this year as compared to about 1.01 per cent rise in benchmark BSE Sensex during the period.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)