IBN - ICICI Bank: Strong Re-Rating Post The Indian Budget But Risks Remain
- There were many encouraging measures for IBN in the recent budget.
- IBN has been able to leverage its digital edge and take market share in a difficult loan growth environment.
- Asset quality challenges have cropped up, and are poised to worsen in the March quarter.
- Valuations are still expensive, although some of this could be attributed to the recent re-rating of the stock and the sector post the Budget.
- The stock had witnessed a negative shooting star reversal pattern in Feb, but is so far managing to defend a crucial price point.
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ICICI Bank: Strong Re-Rating Post The Indian Budget, But Risks Remain