April 16, 2019 / 6:01 AM / in a month

BUZZ-India's ICICI Bank jumps; Goldman Sachs raises PT - report

** Shares of ICICI Bank Ltd rise as much as 3.3 pct to 405.5 rupees, marking their biggest intraday pct gain since March 12

** Media reports say brokerage Goldman Sachs raised price target on the stock to 492 rupees from 451 rupees and maintained ‘buy’ rating

** GS expects bank to deliver return on assets and return on equity of 1.8 pct and 17 percent, respectively, over FY20-21, the report added

** Over 11.4 mln shares change hands, compared with 30-day avg of 16.1 mln shares

** Stock has estimated PE of 33.01, well below sector average of 76.38

** Stock posts highest since April 1; top pct gainer on NSE index

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