ICICI Bank share price to give 9% gains in 2 months; Buy, say stock market experts
ICICI Bank share price is expected to touch Rs 460-470 per stock levels in the mid to short-term period, say stock market experts.
ICICI Bank share price: The Indian indices have shown some upside momentum after bleeding for six straight trading sessions. According to the stock market experts, banking and finance stocks are expected to outperform other sectoral stocks as Foreign Institutional Investors (FIIs) are putting good amount of money into the banking stocks as these were the most hit stocks in a recent selloff triggered after the Union Budget 2019 presentation on July 5th. Experts say ICICI Bank is a good share to buy as the banking stocks are poised to showcase Rs 470 levels in mid to short term means in around 2 months. Currently, the ICICI Bank share price is oscillating at around 430 levels and the majority of the stock market experts are of the opinion that ICICI Bank share price target is Rs 460 per stock to Rs 470 per stock.
Speaking on the ICICI Bank share price target Sumeet Bagadia, Executive Director at Choice Broking said, "ICICI Bank is a good share to buy as the banking stocks are expected to outperform other sectors." He said that in recent times banking stocks have received the maximum beating post-budget 2019 presentation on July 5th. "The ICICI Bank share price is expected to touch Rs 460-470 per stock levels in the mid to short-term period means around 2-months time." However, Bagadia advised stock market investors to maintain the strict stop loss at Rs 410 per stock levels while buying ICICI Bank shares.
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Rakesh Bansal, Vice President at RK Global said, "ICICI Bank is a good share to buy and a stock market investor can buy this stock." He said that along with ICICI Bank share price, HDFC Bank and Kotak Mahindra Bank share price are also expected to go northward.
Prakash Pandey, MD & CEO at Plutus Advisors said, "In recent months, ICICI Bank has received maximum beating and this was caused mainly by the FIIs. They fished out their money because of the surcharge being levied on them. Now, since the budget surcharge has been waived by the Finance Minister Nirmala Sitharaman, FIIs are back to business on Dalal Street and ICICI Bank stock will be one of the major banking stocks for FII investment."