This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

6 Indian Growth Stocks With Upside: Analysts

1. ICICI Bank (IBN) is the largest private bank in India with varied business interests including insurance and asset management.

For 2010 December quarter, the bank reported strong net profit growth of 30.5% year-over-year, topping analysts' estimates, mainly attributable to lower provisioning.

During the same quarter, loans grew 6.4% from the earlier quarter. Lower-cost deposits showed healthy traction, growing at 23% year-over-year and current account-saving account ratio improved to 44.2%. Net interest margins remained stable at 2.6%; however, cost-to-income ratio increased to 42.3% from 41.5% sequentially.

Asset quality remained strong, gross non-performing asset ratio increased marginally by 0.4% quarter-over-quarter, while net non-performing asset ratios continued to decline. Provision coverage ratio improved to 71.8% during the quarter from 69% in the previous quarter.

The stock has a 50% buy rating and is expected to deliver gains of around 30% in a year's time, as per analysts' consensus estimates. The stock is trading at 2.2 times its estimated 2012 book.

>To see these stocks in action, visit the 6 Indian Growth Stocks With Upside portfolio on Stockpickr.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.
7 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
HDB $56.83 0.00%
IBN $10.16 0.00%
IGTE $45.85 0.00%
RDY $55.55 0.00%
WNS $24.50 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs