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In IT, midcap companies have outperformed the tier-1 players for quite some time both in terms of the business growth as well as stock price performance, says
MOFSL.
What is your view on
ICICI Bank? The Street has liked their quarterly performance. Going forward. can one add the stock at Rs 600 plus levels?
Yes, we were positively surprised with the numbers that the ICICI Bank came out with and also with the Axis numbers. The Street was expecting improvement in some of these corporate banks. There was strong performance with loan growth showing robust trends across segments retail, SME and corporate. The core operating performance has been very robust. The asset quality has improved with a strong buffer in terms of provisioning that the company has made for any slippages in this second wave of the pandemic. That also gives some comfort on the bank going forward.