ICICI Bank stock has risen 5.83% in the last 2 days of trade 
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ICICI Bank stock has risen 5.83% in the last 2 days of trade ICICI Bank shares rose over 4% in Monday's early trade. ICICI Bank share price opened with a gain of 2.2% today and later touched an intraday high of Rs 373.85, rising 4.65 on BSE. The stock settled at Rs 375.25 in Friday's trade.
The stock has risen 5.83% in the last 2 days of trade. ICICI Bank stock has risen 8.92% in one week, 9.33% in one month. However, the stock has fallen 31.46% since the beginning of the year. The stock is trading higher than 5, 20 and 50-day but lower than 100 and 200-day moving averages.
The stock been assigned a Buy call by many brokerages houses, given its recent Q4 performance and stability amid COVID 19-induced economic challenges. Angel Broking in its top picks kept Accumulate rationale for the stock, with a target price of Rs 375, and an upside of 14%.
The brokerage said that ICICI Bank is trading at a significant discount to historical average valuations and offers favourable risk-reward from current levels given global tailwinds.
Angel Broking added that the ability to raise sufficient liquidity at low cost would be the key criteria for banks to navigate the current situation. ICICI Bank is clearly better positioned in the liability side (in Q4FY20, Deposit grew 18% YoY and CASA ratio of 45%), it added later.
As per Geojit Financials, the second-largest private sector bank has a network of 5,275 branches and 15,589 ATMs across India with approx 50% of branches in semi-urban and rural areas. The bank's healthy capital position, along with strong network support by digital transformation should drive growth.
The brokerage house has reiterated its BUY rating on the stock with a revised target price of Rs 420 per share.
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