Chanda Kochhar, MD & CEO, ICICI Bank is quite sanguine that the worst is over for the economy.
Chanda Kochhar, MD & CEO, ICICI Bank is quite sanguine that the worst is over for the economy. Speaking to CNBC-TV18's Shereen Bhan, Kochhar said that a rate cut could come at the end of FY15.
Here's an excerpt from that conversation
Kochhar: Some work has started happening on this whole coal allocation and logistics movement and so on. Clearly consumer confidence is coming back in a better manner the way you see now passenger car sales going up, the manufacturing index moving up. So we are just at the beginning of some of the positive signs, a lot could really depend on achieving the fiscal consolidation that we are talking about but yes I think the economy's bottom is over.
Bhan: 5.5 percent achievable?
Kochhar: I think it is achievable.
Bhan: The rate cut debate continues now, is it going to be fag end of this calendar year or early next year, where do you stand? Deepak Parekh said fag end of this calendar year, Uday Kotak said early 2015, where do you stand?
Kochhar: It is going to be fag end of this fiscal year because RBI has made it very clear that they are looking at the inflation, targeting in the medium term and clearly to control inflation there are a lot of steps that we need to take on the supply side as well. So we do have to wait a couple of quarters.
Also Read: Forget 2014, RBI's Rajan may not cut rates in 2015 as well
ICICI Bank stock price
On July 28, 2014, ICICI Bank closed at Rs 1451.50, down Rs 24.4, or 1.65 percent. The 52-week high of the share was Rs 1590.35 and the 52-week low was Rs 758.80.
The company's trailing 12-month (TTM) EPS was at Rs 88.11 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 16.47. The latest book value of the company is Rs 632.92 per share. At current value, the price-to-book value of the company is 2.29.
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