ICICI Bank has rallied on the back of impressive set of numbers for the December 2011 quarter. Should you buy this stock at the current levels? Check out what the experts say.


DK Aggarwal, CMD, SMC Investments and Advisors

ICICI bank has posted impressive results, better than market expectations. Even though the market had feared about the asset quality, the bank posted better picture on NPA front. The gross NPA has declined from 4.75% to 3.82% on year-on-Year basis, which is impressive. Even the net NPA has declined from 1.39% to 0.83%. This has led to fresh momentum on the stock, and this momentum can be expected to remain strong as interest rate reversal by the RBI is just round the corner.


Ranak Merchant, Technical Analyst - Strategies, Sushil Financial Services

The stock is likely to face some resistance near Rs 895. If it manages to cross this level, the rally can gain futher momentum. Crucial support can be traced to Rs 872, which is a bearish trigger point for the month.


Kishore Ostwal, MD and Chairman, CNI Research

ICICI Bank has beaten the Street expectations. The Net Interest margins (NIM) have improved substantially and the scrip changed the trend of the markets today. I have always maintained a long position on the stock and still continue to maintain it.


Phani Sekhar, Fund Manager - PMS, Angel Broking

In absolute terms, non-performing assets (NPA) have decreased during the quarter. Till 2008, ICICI Bank had been growing fastest but after the slowdown, they consciously started contracting their balance sheet. Apart from that, their Net interest income also witnessed an increase, as they adopted various measures like replacing whole-sale borrowing with CASA. Four years ago, their CASA accounted for twenty-something percent of their operations while now it accounts for nearly 44%. I recommend investors with a long-term perspective to BUY the stock on decline.


Mehraboon Irani, Principal & Head-Pvt. Client Group Business, Nirmal Bang

Analysts had expressed lots of concerns regarding ICICI Bank as a stock, in terms of quality of assets. The management of ICICI Bank deserves full marks for having taken care of all those problematic areas. I feel that the results have been quite ok. I recommend ICICI Bank to aggressive investors as it is and will continue to be a high beta stock. Therefore, it will shoot up with the markets and fall on every decline.