ICICI Bank top idea, better than expected progress in retail space: Kotak

Kotak Securities has maintained buy rating on ICICI Bank, the country's largest private sector lender, with a price target of Rs 370 per share.

"It is our top idea," the research house said, adding ICICI Bank continued to make better-than-expected progress in retail space.

Despite near term concerns of RERA, retail mortgages will remain the bedrock of retail assets, it feels.

In auto loans growth opportunity is healthy, but profitability is a challenge, Kotak said.

At 15:00 hours IST, the stock price was quoting at Rs 277.10, up Rs 1.55, or 0.56 percent on the BSE.

Source: Moneycontrol

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