Nuvama Institutional Equities has reiterated its ‘Buy’ rating on ICICI Bank and raised the target price to Rs 1,850 from Rs 1,800, following the lender’s strong Q1 FY27 performance. The brokerage said ICICI Bank delivered industry-leading credit growth, a positive surprise on net interest margins (NIMs) and robust fee income, resulting in a profit that exceeded its estimates. Nuvama continues to maintain ICICI Bank as its top pick in the banking sector, citing its superior growth outlook, strong profitability, healthy capital and provisioning buffers and credible management.
