Technical analyst Vivek Mahajan of Aditya Birla Money has maintained
'buy' rating on ICICI Bank Limited stock with a medium-to-long term
target of Rs 1300.

The stock of the company, on December 28, closed at Rs 1113.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1277 and a low of Rs 780 on BSE.

Current EPS & P/E ratio stood at 38.06 and 29.63 respectively.

ICICI Bank has declared an increase in interest rates for a range of
tenors of retail fixed deposits by 0.25% to 0.50% wef Dec. 6, 2010.

The banking institution has also posted a growth of 0.50% in its
benchmark PLR and in its Floating Reference Rate (FRR) for consumer
loans comprising home loans.

For the three month period ended Sep 2010, ICICI Bank has recorded an
increase of 18.86% in its net profit, which stood at Rs 12,362.7 million
as compared to Rs 10,401.3 million for the same period of last year.

Interest earned remained down by 5.23% to Rs 63,091 million for the said
quarter from Rs 66,569.4 million for the quarter ended Sep 2009.

Interest expended dropped 11.17% to Rs 41,047.2 million for the three month period ended Sep 2010.