ICICI Bank Shares Crash 3% Despite Bullish Brokerage Calls, CEO Extension Relief

• ICICI Bank shares fell 3% to Rs 1,367 on NSE after Q3 FY26 results, despite brokerages maintaining bullish calls.
• Brokerages largely retained positive stance, looking past a profit miss due to one-off provisions, citing stable margins and improving deposit trajectory.
• CEO Sandeep Bakhshi's two-year tenure extension until October 2028 was seen as a key positive, removing a lingering overhang.
• Q3 FY26 standalone net profit declined 4% year-on-year to Rs 11,318 crore due to higher one-off provisions, though NII rose 7.7% and asset quality improved.
• CLSA, Jefferies, and Kotak reiterated positive ratings with target price increases, while Bernstein maintained a cautious 'Market Perform' rating.

Why It Matters: ICICI Bank shares dropped on Q3 profit miss, but brokerages remain bullish, citing CEO extension and stable operations.