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.