ICICI Bank Share Price Gained 1.5 Percent After It Reported Results

ICICI Bank share price gained 1.5 percent after it reported results which missed most analyst estimates but stable asset quality stole the show for the private sector lender. Most brokerage firms maintained their rating but raised their respective target price up to Rs 400 which translates into an upside of 33 percent.

ICICI Bank witnessed improvement in asset quality during the second quarter of FY18 as it awaits the Reserve Bank of India’s report on divergences to be reported in the third quarter.

In Q1 of FY18, the bank’s net NPAs were the lowest in the last seven quarters at Rs 25,306 crore. The Q2 net NPAs stood even lower at Rs 24,130 crore.

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