Sharekhan research has maintaiend buy rating on ICICI Bank with target price of Rs 1528 in its January 14, 2008 report. "Currently, we value ICICI Bank's core banking business at Rs 1,054 a share and various subsidiaries at a collective value of Rs 474 a share. This leads to a price target of Rs1,528 with a Buy rating. We are confident that the listing of ICICI Securities, ICICI Ventures and the other subsidiaries can provide further upside to ICICI Bank. The table below presents the estimated additional upside (of Rs 299 a share) to our current sum-of-the-parts valuation of Rs 1,528. We maintain our Buy rating on ICICI Bank with price target of Rs 1,528," according to ICICI Bank report.
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Source: Moneycontrol.com
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