ICICI Bank is one of the largest private sector banks in India, and its share price has been a topic of interest for investors for many years. And looking at the growth in the banking industry in recent years, many are curious about the ICICI Bank share price target for 2023, 2025, and beyond.
In this blog post, we will examine the ICICI Bank share price forecast based on several factors, including market trends and economic indicators. Whether you are a current shareholder or considering investing in ICICI Bank, this comprehensive guide to the ICICI Bank share price target will give you a better understanding of what to expect in the coming years.
About ICICI Bank
ICICI Bank, an acronym for Industrial Credit and Investment Corporation of India Bank, is a renowned financial institution based in India. The bank provides a comprehensive range of banking and financial solutions to cater to the needs of individuals, small businesses, medium-sized enterprises and large corporations alike.
Established in 1994, ICICI Bank has become one of the leading banks in India and has a strong presence in the country, with a network of branches and ATMs spanning multiple cities.
The bank is also recognised for its innovative approach to banking and financial services, having implemented several cutting-edge technology solutions to improve the customer experience. With its commitment to providing world-class financial services, ICICI Bank has emerged as a significant player in the Indian banking sector and continues to grow and expand its operations to meet the evolving needs of its customers.
Fundamentals of ICICI Bank
Fundamental analysis is essential in investment decision-making as it helps evaluate a company’s financial health and future growth potential. By analysing the fundamental aspects of ICICI Bank, we gain valuable insight into the bank’s performance and ability to thrive in the competitive banking sector. And This will also help us to forecast ICICI bank share price.
This data was taken on February 12, 2023.
- The Stock P/E ratio is 18.7
- Current Market Price ₹854
- Earnings Per Share ₹45.8
- Sales Growth 5 years 9.38%
- Return on Equity 14.8%
Based on its financial reports, it is clear that the company has several strengths, which are as follows:
- Showing good signs of profitability & efficiency
- Consistent profit growth with a good CAGR over the past five years
However, a closer examination of the company’s fundamentals reveals some weaknesses, which are as follows:
- Overvalued compared to the market average
- High price-to-book ratio
- Low-interest coverage ratio
- Poor sales growth over the last five years
- Low return on equity over the last three years
- High contingent liabilities
- Capitalisation of interest cost and significant other income
Disclaimer: The information provided is for educational purposes only and is not intended as financial advice. It is crucial to conduct thorough research and consult a financial expert before making investment decisions.
Technical Analysis of ICICI Bank Share Price
Since the start of 2021, ICICI Bank has delivered a substantial return on investment to its shareholders, with a share price increase of approximately 75% from its previous high level. Currently, the ICICI Bank share price continues to experience a strong upward trend, indicating positive market sentiment towards the company.
It appears that ICICI Bank’s share price has been experiencing a steady upward climb since the end of 2020. Upon closer examination of the weekly time frame, I have noticed that the price has consistently found support on a trendline, indicating a sustained bullish trend. This has likely contributed to the impressive return for investors, painting a good picture of the company’s future.
Disclaimer: Please note that the stock price may not always perform as predicted and that my analysis may not always be accurate. The price predictions and analysis presented are solely my perspective and should not be taken as financial advice. It is essential to conduct thorough research and seek the advice of financial experts before making any investment decisions.
The above images are taken from Tradingview.com
ICICI Bank Share Price Forecast
|ICICI Bank Share Price Targets (₹)
ICICI Bank share price target 2023
After conducting a thorough analysis of the ICICI Bank chart on Trading View, utilising multiple time frames, I have come to the following conclusion:
The estimated target for the ICICI Bank share price in 2023 is ₹1000.
ICICI Bank share price target 2024
The ICICI Bank share price target in 2024 is ₹1270.
ICICI Bank share price target 2025
The ICICI Bank share price target in 2025 should be ₹1350.
ICICI Bank share price target 2026
The estimated target for the ICICI Bank share price in 2026 is ₹1475.
ICICI Bank share price target 2027
The estimated target for the ICICI Bank share price in 2027 is ₹1555.
ICICI Bank share price target 2028 to 2030
The estimated target for IRFC share price in 2028, 2029, and 2030 is ₹1600, ₹1780, and ₹1875, respectively.
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Suppose you’re considering investing in ICICI Bank. In that case, it is essential to keep an eye on the overall upward trend and look for opportunities to invest when the price retraces to a critical support level, such as a trendline or significant zone. As a well-reputed private sector bank in India, ICICI Bank is a solid investment choice for the long term.
Disclaimer: The information provided is for educational purposes only and should not be taken as investment advice. I cannot be held responsible for any profit or loss. It is highly recommended to conduct your research and consider all factors before making any investment decisions in the stock market. The information in this post may be subject to inaccuracies and errors and is subject to change.