Aditya Birla Money is bullish on ICICI Bank and has recommended buy rating on the stock with a target of Rs 1100 based on technical indicators. The current market price of ICICI bank is Rs.1033. Download the research report from the following link: http://www.moneycontrol.com/news_html_files/news_attachment/2011/ICICIBank_Aditya_150611.pdf
But we at InvestorZclub believe that bank stocks should be avoided at this point of time when the interest rate has yet not peaked and RBI is expected to raise the rates further because of stubbornly high inflation.
One can start looking at quality bank stocks only after there are signs of moderation in Inflation and interest rate without which the banks would continue to under perform.
We at InvestorZclub have been bearish on banks since past few months (http://investorzclub.blogspot.com/2011/05/should-one-invest-in-banking-stocks-now.html) and continue to do so because of high inflation, interest rates and increasing NPAs.
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