Karvy Stock Broking Limited has maintained 'Buy' rating on ICICI Bank stock to achieve an intraday target that lies between Rs 960 -965.

According to Karvy, interested traders can buy the stock between Rs 940-945 with a strict stop loss of Rs 935.

On Tuesday (Oct 06), the shares of the bank closed at Rs 938.35 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 944.60 and a low of Rs 252.75 on BSE. Current EPS and P/E of the stock stood at 35.11 & 26.44 respectively.

ICICI Bank, India's biggest private sector lender, has allotted 12,770 equity shares to its personnel under ESOS.

The Foreign Investment Promotion Board (FIPB) has asked ICICI Bank to get authorization from Sebi and the central bank for its Rs 500-crore fund, which is planned to set up in Mauritius for making equity and equity-related investing in the country.

The projected fund has a greenshoe alternative of up to Rs 250 crore, providing the bank the prospective to lift up Rs 750 crore from Indian plus global investors. The financial services giant had sought authorization for the rising India fund company with a period of 7-years, with the choice of increasing it by two years.