ICICI Bank Ltd (NYSE:IBN) is one of the top bank stocks to buy now according to analysts.
The Street has a consensus Buy rating on the stock and projects an 11% upside to the current price
A total of 37 hedge funds and 15 billionaires are backing ICICI Bank stock. ICICI Bank Ltd (NYSE:IBN) has teamed up with TPG and others to acquire Aseem Infrastructure Finance, a leading provider of loans to fund sustainable infrastructure projects in India. According to a July 6 press statement, ICICI Bank will hold up to a 5% stake in Aseem.
Aseem has disbursed roughly $4.2 billion in loans to finance various projects. These include 27-GW renewable energy projects and roughly 2,000 kilometers of power transmission projects. With India targeting to reach 500 GW of renewable energy capacity by 2030, ICICI Bank and TPG see Aseem as uniquely positioned to address the country’s climate solutions financing needs.