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We had released our initiating coverage report on ICICI Bank Ltd. with an Accumulate rating on 25th October 2019 at Rs.467. Since our initiating report, the stock has posted a high of Rs.601 today and has achieved our target price of Rs.597.

With the recent run-up in the share price, our Target Price for the stock is achieved; hence, we are now changing our rating on the stock to Neutral and recommend our investors to book profits at the current price.

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