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Ventura research firm released today core "buy" holdings for Their India portfolio.  Ventura recommends Mahindra & Mahindra, Coal India, Godrej Consumer Products, Cipla, Zee Entertainment Enterprises and Emerging Money favorite ICICI Bank ( IBN , quote ).

Out of the six stocks that are recommend only one name is traded on the U.S. exchanges through an ADR.  The other names will require readers to obtain a broker in India or a U.S. broker with access to the India's exchanges.

The U.S. ADR is ICICI Bank, a name well known to Emerging Money readers.  Ventura highlights the banks consolidation over the past few years. The stock has been trading from mid-$23's to $50 since 2008 and in 2012 tightened the range from $28 to mid-$40 level.  Different signs of price beginning to coil. Ventura points out that bank has successfully finished the basic phase of improving assets quality as well as the bank's NPA's and is ready now to move onto the next phase of building quality earnings and diversifying ICICI's loan book further.

Getting in early while ICICI Bank pays the investor to wait with 1.42% dividend may not sound all that large, but is fairly good relative to the current dividends of U.S. banks.  The only U.S. bank that comes to mind with a larger dividend is Wells Fargo ( WFC , quote ) with a 2.53% payout.

Bottom Line: ICICI Bank has clearly been working on balance sheet along with the bank's loan book and deserves a look as a long-term investment. Remember, this is a long-term investment scenario.  The stock has popped on the report by 1.45% in the U.S. exchanges; look for the headlines to pass before considering a position.

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