“Reiterated 'Buy' on ICICI Bank with a target price of Rs 1,750, implying a 21% upside. The bank reported a strong quarter with resilient NIMs, healthy core profitability, and robust asset quality. Margins are expected to remain broadly stable through FY27, with credit costs in the 0.4-0.5% range. ICICI Bank is well-placed to deliver an average RoA of 2.33% over FY27-28E, supported by industry-leading asset quality and a contingency buffer.”

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%