In one week, the stock of the second largest private sector lender has outperformed the market by gaining 3.5 per cent, compared to the 1.9 per cent rise in the BSE Sensex.
Lender currently holds a little over 48% in the general insurer; must bring that down to 30%
Selective stocks like Bharat Petroleum Corporation, Divi's Laboratories, Hindalco Industries, Hero MotoCorp and State Bank of India, the technical charts are reflecting clear weakness.
At 11:00 am; Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services are trading almost flat, as against 0.58% rise in Nifty 50.
Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.
ICICI Bank Q3 result review: ICICI Bank, on Saturday, reported a beat on profitability at Rs 8,312 crore, led by strong growth, superior margin delivery, and contained operating expenditure
Stocks to Watch: Shares of Axis Bank, Canara Bank, IDBI, Jindal Stainless and Tata Communications will be in focus ahead of Q3 results on Monday.
ICICI Bank Q3: Consensus estimate by Bloomberg pegs ICICI Bank's net profit growth at 33 per cent year-on-year (YoY)/9 per cent quarter-on-quarter (QoQ) at Rs 8,242 crore
HDFC Bank's stock to turn bearish only beneath the support of Rs 1,500
Private sector ICICI Bank on Monday said it has raised Rs 5,000 crore through bonds to fund business growth. The bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis, the date of allotment being December 12, 2022, it said in a regulatory filing. The bonds are redeemable at the end of 7 years (redemption date being December 12, 2029), it said. There are no special rights or privileges attached to the bonds, it added. The bonds carry a coupon of 7.63 per cent payable annually and were issued at par, it said, adding, the bonds would be listed in the relevant segment of the NSE.
Stocks to Watch Today: Shares of Paytm are likely to be in limelight as the company plans share buyback; board to meet on December 13.
At 10:35 AM; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Private Bank indices were up in the range of 0.10% to 0.90%; while Nifty Auto and Nifty Realty indices slipped up to 0.2%.
Stocks to Watch Today: Shares of rate sensitive sectors such as auto, banks, NBFCs and real estate are likely to be in focus owing to the RBI policy announcement on Wednesday.
ICICI likely to issue long-term bonds, Axis mulls infra bond sale
Private sector banks' outlook is brighter on a relative basis, and the players will outperform benchmark indices from a 6-12 months' perspective, analysts say
Conversely, Reliance Industries and Tata Consultancy Services saw the maximum FPI outflows at Rs 44,622 crore and Rs 17,838 crore, respectively
In the order the Judge said that the bank was justified in revoking acceptance of early retirement of Kochhar as they had accepted it without having complete knowledge of the facts
ICICI Bank Q2 result review: ICICI Bank shares hit record high of Rs 942.7 apiece as the lender outperformed peers on every metric in Q2FY23
Advances of ICICI Bank grew 23 per cent YoY and 5 per cent sequentially to Rs 9.38 trillion at the end of the September quarter
ICICI Bank Q2 preview: Better credit growth, including for mortgages and unsecured loans, should drive up margins, leading to healthy core profitability, analysts said