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BUZZ-India's ICICI Bank reverses losses on asset quality optimism
October 30, 2017 / 4:35 AM / a month ago

BUZZ-India's ICICI Bank reverses losses on asset quality optimism

** ICICI Bank Ltd’s shares rise as much as 1.5 pct, reversing early losses of up to 2 pct

** Q2 profit fell more than expected to 20.58 bln rupees ($316.47 mln), but bad loans remained stable

** Jefferies upgrades stock to ‘buy’, citing “greater comfort” in bad loan additions going forward

** Goldman reiterates ‘buy’ on ‘conviction list’; says India cenbank’s audit of co’s bad loans not completed but unlikely to result in a “major disappointment”

** Nomura expects gradual asset quality stability for ICICI Bank, retains ‘buy’

** Out of 44 analysts covering the stock, 19 rate it ‘strong buy’ and 23 at ‘buy’ while the rest have a ‘hold’ or below ratings ($1 = 65.0300 Indian rupees)

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