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Buy ICICI Bank; target of Rs 890: Edelweiss Securities

Buy ICICI Bank; target of Rs 890: Edelweiss Securities
December 06
18:24 2021

Edelweiss Securities is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 890 in its research report dated December 05, 2021.

Broker Research

December 06, 2021 / 03:14 PM IST

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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Edelweiss Securities’ report on ICICI Bank

The key takeaway from ICICI Bank’s (ICICI) Analyst Day 2021 is extension of the earlier versions showcasing its digital prowess, focused execution, and ability to capture the entire customer ecosystem. The event spelt out the bank’s approach to deepening moats in existing verticals via dual levers: analytics and digitalisation. An ecosystem approach to tracking risk/opportunity across segments shows ICICI is evolving into a next-gen bank (ingrained digital edge) that is well equipped to cater to customers’ changing needs.

Outlook

The bank’s approach also highlights that it is moving beyond ‘hygiene’ towards excellence. Maintain ‘BUY’ with a TP of INR890 (unchanged). ICICI continues to be our top sectoral pick.

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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