ICICI Bank still affordable for investors as positive triggers intact

At a time when quality stocks trade at prohibitive valuations, particularly in the financials space, ICICI Bank is an exception which still lends itself affordable for investors. Trading at two times its FY20 estimated book value, despite a sharp rally in three months, the bank’s stock continues to trade at a discount to peers such as Axis Bank and HDFC Bank. Interestingly, a few factors such as receding concerns on asset quality, well-executed strategy on retail business and best in class liability cost structure work in favour of ICICI Bank. Also, with almost a year of new manage.....

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