India's ICICI Bank gains on Q1 profit beat
** Shares of ICICI Bank ICBK.NS rise 1.9% at 1,229 rupees
** India's second-largest private lender on Saturday reported a 14.6%surge in net profit, beating estimates
** ICICI Bank shares are up 23% so far this year, making it the fourth biggest gainer among 12 stocks in the bank index .NSEBANK, which is up by 7.3%
** At least 17 analysts raised their target price on the bank after results, with median PT at 1,352 rupees compared with 1,315 rupees a month back - LSEG data
** "With strong balance sheet and capital position, the bank is well poised to gain market share, at a time when the largest private bank is moderating growth," PhillipCapital said in a note
** ICICI's earnings are free of the problems like falling asset quality, NIM and higher loan deposit ration that afflicted its peers in Q1, Nuvama said
Reporting by Sethuraman NR in Bengaluru
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