Looking for a buy on correction

ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Vadodara. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.

Core operating profit (profit before provisions and tax, excluding treasury income) grew by 19% year-on-year to 10,273 crore (US$ 1.3 billion) in the quarter ended June 30, 2022 (Q1-2023)

Net interest income grew by 21% year-on-year in Q1-2023
Profit after tax grew by 50% year-on-year to ` 6,905 crore (US$874 million) in Q1-2023

Total period-end deposits grew by 13% year-on-year to 1,050,349 crore (US$ 133.0 billion) at June 30, 2022

Average current account and savings account (CASA) ratio was 45.8% in Q1-2023

Domestic loan portfolio grew by 22% year-on-year


I expect a correction to come in this stock in the coming weeks. Will look for a buy after the end of correction

Goodluck!