“Assigns an overweight rating to ICICI Bank, signaling a 25% upside to ₹1,800. Business banking momentum remains strong with stable asset quality, while retail growth is expected to improve as personal loan disbursements normalize. Management anticipates improving system-wide credit demand, supported by fiscal and monetary measures, to sustain healthy growth through FY27.”

Axis Securities Analysis’s track record: 3 graded calls · 95% CI 21–94%