ICICI Bank: Brokerages give mixed reactions to Bakhshi's appointment as COO

Most analysts remain bullish on the stock from a year's perspective, they see limited gains at the counter over the short to medium term

The appointment of Sandeep Bakhshi as chief operating officer (COO) at ICICI Bank has evoked mixed reactions from market participants. 

While most brokerages have given a thumbs-up to the development and retained a buy call on the stock from a 12-month perspective, the domestic asset management industry isn’t enthused. 

Several domestic fund managers who spoke to Business Standard on condition of anonymity said Bakhshi could have been appointed interim chief executive officer (CEO) instead of COO. Further, the bank should provide a timeline for completing the internal probe, to be conducted by former Supreme Court judge B N Srikrishna.