Rajesh Agarwal of CD Equisearch has suggested the shareowners to stay invested in ICICI Bank for long term.

Agarwal told, “In ICICI Bank funds, but because of interest rates stabilizing the margins will be better this time. It is currently quoting at a PE of 28, I think the bank has a very good long-term prospect and one could hold for a long term. The price target would be in the range of Rs 1,100-1,150 in a period of 6-9 months.”

He also said that ICICI bank is the best bet for long term gains. It will also provide profits in medium-term, but those who want to reap higher benefits should keep it for long term. There has been quite a good 25% jump in net level. If investors watch the net interest margin, they were slightly under pressure because of the higher cost.

ICICI Bank is India's leading private sector bank with total assets of about USD 79 Billion as on Mar 2007. The bank has a total network of more than 950 branches and offices, and about 3495 ATMs and 24 million clients.

The bank provides an extensive variety of banking products and financial services to business as well as retail customers through different delivery channels and its specialized subsidiaries and associates in the areas of investment banking, life and non-life insurance, venture capital and asset management.