Saurabh Mukherjea’s banking bet hits record high on third day in a row

Market


ICICI Bank shares are one of the Saurabh Mukherjea stocks that has given stellar return to its shareholders in recent sessions. In fact, ICICI Bank share price today ascended to fresh life-time high of 936.65 apiece on NSE. After hitting this record high today, ICICI Bank has hit new high on third successive session in a row. The Saurabh Mukherjea portfolio stock has hit new highs on Tuesday and Wednesday session as well. The banking stock had hit record high on Friday and Thursday sessions last week as well. That means, in last five sessions, this Saurabh Mukherjea stock has hit new life-time on sessions.

According to stock market experts, market is bullish on capital funding and ICICI Bank has good exposure in capital and retail funding. This private lender stock is expected to get better business in capital funding segment and by end of 2022, this Saurabh Mukherjea portfolio stock may go up to 1144 apiece levels, believe experts.

Speaking on the reason for rally in ICICI Bank share price, Ravi Singhal, CEO at GCL Securities said, “Stock market investors are highly bullish on capital funding after Covid. ICICI Bank has good exposure in capital funding and retail funding. So, in unlock theme and fast opening national economy, ICICI Bank is expected to attract good amount of business in both capital and retail funding. That’s why the stock is expected to remain bulls’ favourite in short to medium term.”

Advising ICICI Bank shareholders to hold the stock further, Mudit Goel, Senior Research Analyst at SMC Global said, “ICICI Bank is looking on chart pattern and it may go up to 955 in immediate short term. Those who have this stock in portfolio are advised to hold the stock with trailing stop loss at 905 for immediate target of 955 apiece.”

For those who want to add ICICI Bank shares in their stock portfolio, Ravi Singhal of GCL Securities said, “There can be some retracement in the banking stock and one should take fresh position around 880 to 900 only. If the stock comes around these levels, then only one should buy ICICI Bank shares maintaining stop loss at 840 levels. One should keep a target of 1144 apiece by the end of 2022.”

In a recent TV interview, founder and chief investment officer (CIO) of Marcellus Investment Managers, Saurabh Mukherjea said that Marcellus’ wealth management team has built positions in ICICI Bank over the last few months.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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