Tag: icici bank

The Indian benchmark indices extended their winning run into the fourth straight trading session backed by solid gains in index heavyweights - Reliance Industries, Infosys, ICICI Bank, and Bharti Airtel. Reliance and Airtel were in the limelight, on reports that the three telecom majors (Jio, Airtel, Voda Idea) have sought 90-95 percent reduction in 5G spectrum auction prices. The IT shares were expected to be in focus owing to results announcements from Infosys, TCS, and Wipro. While IT major Infosys ended with a gain of 1.1 percent, TCS and Wipro, however, were down 1.5 percent and 0.3 percent, respectively, in trades awaiting the Q3 result announcements. Read more

The Indian benchmark indices were firm in early morning deals today(12th January 2022) holding their opening gains on the back of buying in heavyweight RIL, private lender HDFC and select banking counters such as ICICI Bank, Kotak Bank, and SBI. All of these were up between 0.9-1.6 percent. The BSE Sensex was up 343 points 60,960, after reclaiming the 61,000 mark at open. The NSE Nifty was nearly 100 points higher at 18,154. The BSE MidCap and SmallCap indices too were firmly positive and were up 0.7 and 0.8 percent, respectively. Sectorally, on the NSE, the Realty index was the leading gainer, up nearly 3 percent, followed by metals, energy, and PSU Banks. Read more

The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 percent upside in one month. 1. State Bank of India Likely target: Rs 530 Upside potential: 8% The shares of the banking major took support at its 50-day moving average (DMA), located at Rs 479 recently. As long as this support is defended, the positive bias may help resume an upward momentum towards Rs 530, its next major hurdle, according to the daily chart. The Moving Average Convergence Divergence (MACD) has reached near the zero line and if shows a similar reversal like stock price, the direction and leadership may show an aggressive bullish sentiment. Read more

After a volatile start, the benchmark indices gained ground to trade on a firm footing amid gains in banking stocks. A firm start for the European markets also helped the market sentiments. The BSE Sensex reclaimed the 61,000 mark and was up 291 points or 0.48 percent at 61,113. Meanwhile, NSE Nifty traded at 18,169, 55 points or 0.3 percent higher. ICICI Bank, Axis Bank, and SBI were the top Sensex contributors. The broader markets, on the other hand, languished with the BSE Midcap and Smallcap indices down over 1 percent each. The Nifty Bank hit a fresh 52-week high. Realty and IT counters were off day's low but still down 1 percent and worst losers. The BSE index after touching a low of 60,450, bounced back into the positive zone as ICICI Bank and select banking shares extended gains. The Sensex finally snapped its 4-day losing streak and ended 145 points higher at 60,967. Read more

Since April 2021 the NIFTY BANK index has faced resistance at higher levels and has been unable to cross 36,000 levels, as per the weekly setup. The recent momentum, however, has propelled Nifty Bank above the said resistance and there are chances that it can see 36,750 levels in the days ahead, as per the daily chart. The overall structure of weekly and daily charts suggests a positive rally that could see Nifty Bank surpass 37,000 levels and gain more ground. The immediate support comes at 35,500 levels. NIFTYBANK Likely target: 36,750 and 37,000 Upside potential: 2% to 2.50% Read more

The Indian benchmark indices started weak today(26th July 2021), in tune with the other Asian markets, dragged by financials. The headline S&P BSE Sensex tumbled 147 points, or 0.28 percent, to quote at 52,828 levels in early deals while the broader Nifty50 held above the 15,800-mark at 15,807 levels, down 47 points. Shares of RIL dipped 0.35 percent after the Mukesh Ambani-led Reliance Industries (RIL) reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22), down 7.2 percent from Rs 13,233 crore posted in the same period last year (Q1FY21). However, last year's June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 percent growth in adjusted profit after tax over last year's Rs 8,267 crore. Read more

ICICI Bank today( 30th January 2021) reported a 17.73 percent jump in its December quarter consolidated net profit at Rs 5,498.15 crore, as against Rs 4,670.10 crore in the year-ago period. The country's second-largest private sector lender by assets showed a 19.12 percent rise in the post-tax profit at Rs 4,939.59 crore for the reporting quarter, up from Rs 4.146.46 crore in the October-December 2019 period. Its total income increased to Rs 24,416 crore from the year-ago's Rs 23,638 crore, while the total expenditure was lower at Rs 15,596 crore as against Rs 16,089 crore. The reported gross non-performing assets ratio was at 4.38 percent but would have been 5.42 percent if not for the Supreme Court order asking banks not to classify non-paying loan accounts as NPAs after the end of the loan repayment moratorium. Read more

ICICI Bank has now become the second most widely tracked stock in the world after e-commerce giant Alibaba. As many as 59 analysts covered ICICI Bank, and all of them had ‘buy’ ratings on the lender. On the other hand, 64 experts tracked Alibaba, and 63 had ‘buy’ ratings on the stock, while one had a ‘hold’ call, as per a report. In terms of wealth creation, the stock has outperformed the benchmark equity indices over the past 10 years: ICICI Bank had delivered 8.70 percent annualised return to investors between July 2010 and July 2020, while BSE Bankex has gained 8.50 percent CAGR and Sensex 7.8 percent.

Shares of ICICI Bank slipped as much as 8.7 per cent to Rs 330 on the BSE on Tuesday after the Mumbai based bank ICICI Bank,has a $100 million or Rs 760 crore exposure to Singapore based oil trading company Hin Leon Trading Pte which has filed for bankruptcy protection in the Singapore courts. The Mumbai based bank has lent $100 million to the company out of which $75 million is secured through inventory. Hin Leong and it's sister company Ocean Tankers which owns more than 100 cargo ships have both filed for bankruptcy on Friday which will give 30 days to restructure debt. Hin Leong founded by Chinese billionaire Lim Oon Kuin has total debt of close to $4 billion which will have to be restructured. Read more