Shares of ICICI Bank recorded new highs on Wednesday’s session. This has led to the brokerage companies extending their BUY ratings to the stock of the Bank.
Today ICICI Bank stock was opened at Rs510.00 on the NSE and BSE. The stock hit an intraday high and low levels at Rs525 and 509.30 respectively on the NSE.
The brokerage firm announced that it has maintained its previously assigned BUY rating on the stock for another 12 months, with strong earnings forecasts.
As a result, the intraday share movement gained 3.08% to reach a new all-time high of Rs 525. At 12.25-pm, the stock was trading at Rs.522.05 with a gain of 2.49% compared to the closing of price of Rs.509. The stock recorded it’s one year high-level today. ICICI Bank stocks posted a 32% gain in 3 months with the shares’ 3% rally in today’s trading. Get Best stock to buy tips Tips by just clicking the link.
Another brokerage firm Nomura has also raised the target price of the ICICI bank stock from Rs610 to Rs645. Motilal Oswal also has assigned the stock a BUY rating. The expansion of sustainable income avenues and continued granular income streams across businesses have made ICICI Bank more prone to sustainable growth. It reportedly gives the highest provisioning coverage in the banking sector. The brokerage firm also added that ICICI Bank has seen strong growth in retail growth over the past few years. Top stock Trading Tips go to our official site.