Axis Securities recommends buying ICICI Bank shares with target price of Rs 1,500

Axis Securities has recommended buying ICICI Bank shares, setting a target price of Rs 1,500, up from the current price of Rs 1,275.9. The bank is expected to maintain strong performance driven by business growth and controlled costs. For the quarter ending September 2024, ICICI Bank reported a total income of Rs 72,942.55 crore, an increase of 8.43% from the previous quarter and 27.32% year-on-year. The net profit after tax for the same period was Rs 12,947.77 crore. The main risk identified is a potential slowdown in credit growth due to challenges in deposit mobilization. Despite this, ICICI Bank is viewed as a preferred investment choice among banks by Axis Securities.