ICICI Bank Crushes Q4 Targets; Brokerages Maintain Buy Calls With Rs 1,800 Target

Shares of ICICI Bank rose in early trade on April 20 after the lender reported strong fourth-quarter results for FY26, beating market expectations and reinforcing investor confidence. The bank posted an 8.4% year-on-year increase in standalone net profit to Rs 13,702 crore, compared to Rs 12,629.5 crore in the same period last year, driven by robust loan growth and a sharp decline in provisions for stressed assets. Following the announcement, the stock gained over 1.5% at the opening bell and was last seen trading around Rs 1,361.80 apiece, reflecting positive market sentiment.

The earnings performance was supported by sustained expansion in the bank’s loan book across segments, along with stable net interest margins and improved asset quality. Lower provisioning requirements played a crucial role in boosting profitability, indicating reduced stress in the bank’s lending portfolio. Additionally, ICICI Bank announced a dividend of Rs 12 per equity share for FY26, further enhancing shareholder returns and signalling management confidence in the bank’s financial position and future outlook.

Brokerages largely maintained a bullish stance on the stock, citing strong fundamentals and consistent execution. Global firms such as Citi and Morgan Stanley reiterated their positive ratings, with target prices of Rs 1,720 and Rs 1,705, respectively. They highlighted near-zero credit costs, stable margins, and accelerating loan growth as key drivers behind the earnings beat. Meanwhile, Kotak Securities and Jefferies also retained ‘Buy’ recommendations, though with a slightly cautious tone, pointing to balanced performance and improved corporate recoveries as notable positives.

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According to market data, out of 50 analysts tracking ICICI Bank, as many as 48 have issued a ‘buy’ rating, while only two recommend a ‘hold’, indicating broad consensus on the stock’s growth potential. The average upside potential is estimated at nearly 23%, suggesting further room for gains. While the strong Q4 performance and favourable broking outlook support a positive investment case, analysts advise investors to consider broader market conditions and risk appetite before making buy, sell, or hold decisions.

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