Technical analyst Nitin Murarka of SMC Global has maintained 'hold' rating on ICICI Bank stock with a short term target of Rs 1050.

According to analyst, the stock can be bought with a stop loss of Rs 975.

The stock of the bank, on Feb 04, closed at Rs 996.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1277 and a low of Rs 797.95 on BSE.

Current EPS & P/E ratio stood at 40.86 and 24.25 respectively.

Maharashtra administration and ICICI Bank, on Feb 02, inked a MoU to execute the different state-sponsored financial assistance plans.

Under the deal, the banking institution would be paying out the grants to the scheme beneficiaries via bio metric system that will be implemented primarily in the three regions including Thane, Kolhapur and Beed as pilot project.

The Central as well as State administrations have rolled out various financial assistance plan like Sanjay Gandhi Niradhar Yojna, Indira Gandhi Vruddha Bhumiheen ShetmajoorAnudan Yojna and National Maternity Benefit Scheme.

LabourMinister Hasan Mushrif stated, "We will be leveraging ICICI Bank''s wide branchnetwork to disburse funds under the various schemes."

At present, funds falling under these plans are paid out via post offices or co-operative banking institutions, he said, adding the beneficiaries were confronting troubles in accessing their divisions, which are mostly located in talukas.

"We have now tied up with ICICI Bank, which has itsnetwork across villages, to disburse these funds," he said.