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ICICI Bank: Investors can take advantage of the substantial increase in the price in ICICI Bank and reduce exposures.

The stock trades 3.5 times its book value. At 22, the price-to-earnings multiple of the bank is also much higher than that of many other banks.

ICICI Bank's financial parameters indicate growth is adequately priced in at current levels. Stocks such as SBI trade at more attractive valuation. Investors can sell up to half their holdings in ICICI Bank in a phased manner.

Suresh Krishnamurthy

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