ICICI Bank

ICICI Bank is covered by 51 analysts on the Street and it enjoys 98 per cent Buy ratings, followed by L&T (98 per cent), ITC (97 per cent), SBI (96 per cent) and HDFC (96 per cent). Conversely, JSW Steel (24 per cent), Wipro (33 per cent), Shree Cement (38 per cent), TCS (47 per cent), and Asian Paints (48 per cent) have the lowest percentage of Buy ratings, the report said.

Key positives for the current uptrend in profit cycle is that it is not yet inflated by the effects of 'operating and financial leverage' as capacity utilisation is still in the 60-70 per cent range on a trailing 12-month basis and industry credit is just showing signs of revival from a decadal low, it said. "Prospects for the investment cycle are improving in terms of rising 'animal spirits' observed in the two major growth engines of the capex cycle (private industrials and real estate - link)."

The net interest income (NII) of the lender increased by 21 per cent year-on-year to Rs 12,605 crore in Q4, from Rs 10,431 crore reported in the same quarter last fiscal.

In the mid-cap space, Voltas, HAL, Bank of Baroda, Birla Soft, SRF, Graphite, Timken India, Lemon Tree, and TCI Express are the preferred stocks, the brokerage said. Broader markets are expected to maintain momentum backed by strong improvement in breadth over past few weeks, it said. Sectorally, the IT sector will be in focus amid earnings results expected to be released in coming weeks.

Due to Covid waves in 2020 and 2021 globally and across India, the hospitality industry has seen a lot of volatility in terms of occupancies and room rates over the last two years. Heading into FY23, the beleaguered hospitality sector, which has borne the brunt of multiple Covid waves impacting business, is seeing a confluence of positives with leisure demand remaining strong and business travel set to see a strong leg up with reopening of offices.

India is well positioned to benefit from the increased global demand for steel, aluminium and foodgrains -- wheat and rice, said brokerage house ICICI Securities. India is an alternative supplier of many mineral products where Russia typically dominates.

Amid the ongoing market volatility, the brokerage house ICICI Securities has recommended State Bank of India, Mindtree, Ambuja Cement, Balkrishna Industries, Aditya Birla Fashion & Retail, Indian Energy Exchange, Grindwell Norton, and Balrampur Chini shares as its 'top picks'. The brokerage sees 11-15 per cent upside in share price for these stocks.

The Audit Committee of ICICI Bank was notified of this incident. Based on Bijapurkar's submission, it is concluded that this was an inadvertent trade made without any intent to violate the Bank's Code on Prohibition of Insider Trading (Bank's ·Code) or the SEBI (Prohibition of Insider Trading) Regulations, 2015 (SEBI Regulations), ICICI Bank said in a disclosure last week.

On a standalone basis, the profit after tax grew to Rs 6,194 crore, compared to Rs 4,940 crore in the corresponding period of the previous fiscal. Similarly, the bank's net interest income (NII) rose during the quarter under review, growing by 23 per cent to Rs 12,236 crore in Q3FY22 from Rs 9,912 crore in Q3FY21. "The net interest margin was 3.96 per cent in Q3-2022 compared to 3.67 per cent in Q3-2021 and 4 per cent in the quarter ended September 30, 2021 (Q2-2022).

Its market capitalization ranking within the BFSI space has improved to two from five in FY18. Stability of the top management has helped improve its operational performance. Sandeep Bakhshi's appointment as CEO has brought stability which enabled value creation and drove re-rating as the bank delivered 31 per cent CAGR in m-cap since FY18-21 v/s 7 per cent over FY10-18.