ICICI Bank has target of Rs 740-750: Sukhani

ICICI Bank has target of Rs 740-750, says Sudarshan Sukhani of technicaltrends.com.

Sukhani told CNBC-TV18, “Most banks are offering a shorting opportunity but perhaps it might be wise to leave aside Axis Bank which has been a relative outperformer and focus on ICICI Bank and IndusInd Bank. It is very difficult to say what levels are possible because if the decline begins to gather momentum then significantly lower levels will be possible. But for ICICI Bank a target of Rs 740-750 in the near-term, not today is likely.”

The company’s trailing 12-month (TTM) EPS was at Rs 49.68 per share. (Sep, 2011). The stock’s price-to-earnings (P/E) ratio was 16.28. The latest book value of the company is Rs 478.08 per share. At current value, the price-to-book value of the company was 1.69. The dividend yield of the company was 1.73%.