Buy ICICI Bank; target of Rs 450: Keynotes Financial Opiniery

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Keynotes Financial Opiniery's research report on ICICI bank

ICICI bank has always played a pioneering role in transforming retail banking in the country. The retail franchise is supported by a wide distribution network and strong digital and technological capabilities. The bank’s network of 4,867 branches and 14,367 ATMs as at March 31, 2018 is the largest network among private sector banks in India. The bank offers a comprehensive suite of products and services catering to the full spectrum of customer’s financial needs- savings and investments, payments and transactions, credit, protection from risks and advisory services. The bank has invested in service automation through Natural language Processing (NLP) and Artificial Intelligence (AI). The bank has partnership with varied web based providers for offering payment services using the UPI platform, which is creating new dimensions in the payment ecosystem. Paytm and ICICI bank partnered to jointly launch Paytm-ICICI bank postpaid offering access to instant credit to customers.

Outlook

On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 450/- share an upside of 15% from current levels.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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