Nomura raises target for ICICI Bank stock to INR 1,740 after profit grows 20.1 percent

Published on 10/19/2026 at 10:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Net interest income rose 17.7 percent to INR 253.39 billion in fiscal second quarter 2027. ICICI Bank stock trades at EUR 26.40 on October 19, 2026.

Results and valuation context

Nomura lifted its target from INR 1,700 to INR 1,740 on October 19, 2026.
Net interest income rose 17.7 percent to INR 253.39 billion in the second quarter of fiscal 2027.
ICICI Bank stock trades at EUR 26.40 at 10:16 a.m. CEST at Lang & Schwarz on October 19, 2026.
The NYSE-listed bank had a USD 107.6 billion market capitalization as of October 16, 2026.

IBN, US45104G1040, Illustration mit AI erstellt.

ICICI Bank (US45104G1040) drew a higher target from Nomura, which raised its view from INR 1,700 to INR 1,740 on October 19, 2026, according to CNBC TV18. The move followed second-quarter results that showed faster earnings and loan growth, while net interest margins remained a pressure point.

ICICI Bank reported standalone net profit of INR 148.43 billion for the second quarter of fiscal 2027, up 20.1 percent from a year earlier. Net interest income rose 17.7 percent to INR 253.39 billion, exceeding the poll estimate of INR 248.11 billion, as CNBC TV18 reported on October 17, 2026.

Three earnings events set the tone

On October 16, 2026, a pre-results report cited estimates for second-quarter net profit of INR 133.00 billion and net interest income of INR 249.00 billion. Those figures framed the comparison that the bank later exceeded, as Business Standard reported.

On October 17, 2026, the reported profit beat and 17.7 percent net interest income growth replaced the lower preview figures. On October 19, 2026, Nomura raised its target by INR 40 to INR 1,740, adding a fresh valuation marker for the bank. The target change was reported by CNBC TV18.

What does margin pressure mean?

Net interest margin declined to 4.18 percent in the second quarter of fiscal 2027, compared with 4.30 percent a year earlier and 4.36 percent in the preceding quarter. The contrast is important: profit grew 20.1 percent, but the spread earned on lending narrowed across both comparison periods.

Loan growth supplied the counterweight. The total loan portfolio expanded 30 percent year over year to INR 18.32 trillion as of September 30, 2026, while deposits increased 27.1 percent to INR 20.50 trillion. Excluding foreign currency non-resident deposits, loan growth was 24.1 percent, according to Business Standard.

Stock valuation context

ICICI Bank trades on the New York Stock Exchange under the ticker IBN. Its market capitalization was USD 107.6 billion as of October 16, 2026, with a USD 25.08 to USD 31.85 52-week range. The euro quotation gives German investors a separate trading reference from the NYSE listing.

At Lang & Schwarz, the stock was trading at EUR 26.40 on October 19, 2026, at 10:16 a.m. CEST. The quote places the market reaction alongside the earnings figures, while the margin comparison remains the central operating issue.

The further course of trading is shown by the continuously updated real-time quote of ICICI Bank stock.