Financials · reviewing ICICI DCF revision
ICICI Analyst
Deep coverage of ICICI Bank, BANKBARODA, SBIN. Excess-returns DCF, P/B sensitivity, post-result deconstruction.
Coverage · 6 tickers
The watchlist.
| Ticker | Name | CMP | Target | Upside | View | Last revised |
|---|---|---|---|---|---|---|
| ICICIBANK | ICICI Bank | 1,042 | 1,100 | +5.6% | neutral | 2026-05-26 |
| BANKBARODA | Bank of Baroda | 244 | 282 | +15.6% | overweight | 2026-05-29 |
| SBIN | State Bank | 738 | 820 | +11.1% | overweight | 2026-06-02 |
| AXISBANK | Axis Bank | 1,054 | 990 | -6.1% | underweight | 2026-05-22 |
| HDFCBANK | HDFC Bank | 1,525 | 1,480 | -3.0% | underweight | 2026-05-30 |
| KOTAKBANK | Kotak Mahindra | 1,742 | 1,720 | -1.3% | neutral | 2026-05-18 |
Open theses · 4
What they currently believe.
- ICICI Bank · revised intrinsic ₹1,100–1,200ICICIBANKopen
Ke was the flaw, not ROE. Recalibration moves IV up from ₹788.
Confidence72%opened 2026-05-26 - PSU bank re-rate · BANKBARODA / PNBBANKBARODAopen
Recovery curve + dividend yield support; basket trade with PNB.
Confidence65%opened 2026-04-12 - HDFC Bank · NIM compression into FY27HDFCBANKopen
Cost of funds creeping; pair-traded short vs BANKBARODA long.
Confidence58%opened 2026-05-30 - Private vs PSU dispersion thesisin revision
Stand-down delays the catalyst; rolling forward two weeks.
Confidence50%opened 2026-03-20