JPMorgan raises target for ICICI Bank stock from INR 1,735.00 to 1,800.00

Published on 10/20/2026 at 10:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Profit after tax rose 20.1 percent to INR 148.43 billion in fiscal Q2 2027. For ICICI Bank stock, margin was 4.18 percent versus 4.36 percent.

Earnings and analyst signals

JPMorgan lifted its target to INR 1,800.00 on October 18, 2026.
Net interest margin was 4.18 percent in the second quarter of fiscal year 2027 versus 4.36 percent previously.
ICICI Bank stock traded at EUR 26.35 at 10:00 a.m. CEST at Lang & Schwarz on October 20, 2026.

IBN, US45104G1040, Illustration mit AI erstellt.

ICICI Bank (US45104G1040) received a higher JPMorgan target of INR 1,800.00 from INR 1,735.00 on October 18, 2026, after strong second-quarter results. The upgrade keeps the analyst view positive while highlighting a narrower net interest margin.

Three dated earnings signals

On October 17, 2026, ICICI Bank reported profit before tax excluding treasury up 23.4 percent year on year to INR 199.54 billion for the second quarter of fiscal year 2027. On the same date, CNBC TV18 reported that net profit of INR 148.43 billion exceeded its poll estimate of INR 142.80 billion, while net interest margin fell to 4.18 percent from 4.36 percent in the previous quarter. On October 18, 2026, Investing.com reported JPMorgan's increase from INR 1,735.00 to INR 1,800.00.

What does margin pressure mean?

The earnings mix gives investors a clear counterweight to the profit growth. Net interest income increased 17.7 percent year on year to INR 253.39 billion in the second quarter of fiscal year 2027, while the margin contracted from 4.36 percent in the first quarter to 4.18 percent. The bank attributed part of the comparison to the negligible tax-refund benefit in the latest quarter.

Balance-sheet expansion remained faster than income growth in several areas. Total loans increased 30.0 percent year on year to INR 1.83158 trillion as of September 30, 2026, while deposits grew 27.1 percent to INR 2.049874 trillion. Gross non-performing assets also improved to 1.20 percent from 1.58 percent a year earlier, according to the performance review.

Dates frame the update

October 17, 2026, marked the release of the second-quarter results and the board approval of the accounts. October 18, 2026, brought JPMorgan's target revision, giving the market a fresh valuation reference alongside the operating figures.

Stock and valuation context

The US-listed ADR last stood at USD 29.48 on October 19, 2026 at 4:00 p.m. ET. The same quote showed a market capitalization of USD 105.6 billion and a 52-week range of USD 25.08 to USD 31.85. These figures provide separate US-market context for the euro quotation used by German investors.

ICICI Bank was trading at EUR 26.35 at Lang & Schwarz on October 20, 2026 at 10:00 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of ICICI Bank stock.