ICICI Bank: Stock surges 8%; here's what brokerages are targeting at

Firecracker earnings for ICICI Bank has bought Diwali early for Dalal Street with the stock surging 8% and pushing the Bank Nifty to an all time high.

Firecracker Earnings

The country's second-largest private bank reported a 30% jump in net profits for the September quarter.

Its asset quality improves significantly as the bank reported a 17 basis points decline in the net NPA ratio to 0.99% for the quarter gone by.

Brokerages bet big

CLSA: The brokerage maintained a BUY call on the stock with a target price of Rs 1,100. CLSA noted that the bank has now consistently been delivering sector-best growth.

Credit Suisse: Rising core profitability along with lower credit costs are likely to drive return on equity higher, it said. The brokerage expects the stock to outperform with a target price of Rs 900.