ICICI Bank

Buy ICICI Bank With Intraday Target Of Rs 890

Buy ICICI Bank With Intraday Target Of Rs 890Stock market analyst Prakash Gaba is of the view that investors can buy ICICI Bank stock to achieve an intraday target of Rs 890.

According to analyst, the investors can buy the stock with target of Rs 870.

The shares of bank, on June 16, closed at Rs 877.60 the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1009.50 and a low of Rs 621.90 on BSE.

Current EPS & P/E ratio stood at 36.10 and 24.21 respectively.

ICICI bank eyeing fortune at the bottom of pyramid

ICICI-BankIndia's largest private sector lender, ICICI Bank has said that it looking towards the semi-urban and rural India to be its next big market. It will be doing so by increasing its presence in these areas.

Talking in the annual statement of the bank, managing director of the bank, Chanda Kocchar said that the bank is now focusing on enhancing its capabilities to be able to serve the customers that reside in the smaller towns. She also said that ICICI Bank is taking pro-active steps to make formal finance reach out to the people of rural India.

Sell ICICI Bank With Target Of Rs 820

Sell ICICI Bank With Target Of Rs 820Stock market analyst Deepak Singh has maintained 'Sell' rating on ICICI Bank stock with target of Rs 820.

According to Mr. Singh, the investors can sell the stock with stop loss of Rs 868.

Today, the stock opened at Rs 840 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1009.50 and a low of Rs 621.90 on BSE.

Current EPS & P/E ratio stood at 36.10 and 23.25 respectively.

Bank of Rajasthan Staff Stage Protests Against Merger With ICICI Bank

Bank of Rajasthan Staff Stage Protests Against Merger With ICICI BankTo protest the Bank of Rajasthan's management plan to merge with the ICICI Bank, more than 4200 employees of Bank of Rajasthan went on a two-day countrywide strike on Friday.

The two-day strike would be accompanied by a three-day strike beginning from June 17 to June 19.

Mr. Vishwas Utagi, Secretary of All India Bank Employees Association (AIBEA) urged the central bank to investigate the proposed take over and not sanction the amalgamation of two banking institutions.

BoR’s promoter asks for fairer valuation

Pravin Kumar TayalJust a day before the board meeting of Bank of Rajasthan and ICICI Bank, PK tayal has said that the bank needs to have better valuation.

The board members were supposed to meet for deciding the swap-ratio of the two entities.

Tayal said that the valuation of BoR that has been done by ICICI is not fair and that before anything else is decided they want the offer price to be increased.

Tayal said to the media persons that ICICI Bank has got a very good option. This is one of the best possible deals that they could have got and he wants a minimum swap ratio of 1:3.

BoR staff unhappy with bank merger; protests against it

BoR staff unhappy with bank merger; protests against itJust a day after the merger of Bank of Rajasthan (BoR) with ICICI bank, the staff of BoR has shown its unhappiness and has launched an agitation.

Merger of the two banks will allow BoR to become a part of the largest private sector bank in India and thus it will be able to get over with the heavy debt burden that it is facing now.

The shareholders of BoR have already given their consent to the merger.

BoR allows merger of bank by ICICI Bank

Bank-of-RajasthanThe promoters of Bank of Rajasthan (BoR) said on Tuesday that it have decided that the merger of the bank should take place with India's largest private sector bank, ICICI Bank.

There was buzz in the market for quite sometime and the final statement came during later part of the day during Tuesday.

BoR in its statement to the stock exchanges has informed them of their decision. It said that it has received a communication from Sanjay Kumar Tayal, one of the promoters of the company, said that the board has taken the decision.

Sell ICICI Bank

Sell ICICI BankTechnical Analyst Sudarshan Sukhani has maintained 'sell' rating on ICICI Bank stock in today's trading session.

According to Mr. Sukhani, interested traders can sell the stock in order to avoid loss.

The shares of the bank, on May 05, closed at Rs 900 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1009.59 and a low of Rs 489.90 on BSE.

Current EPS & P/E ratio stood at 36.10 and 24.81 respectively.

ICICI Bank on May 03 announced that it plans to increase its total headcount by around 7,000 in 2010-11.

ICICI Bank on a hiring spree

ICICI Bank on a hiring spreeIndia's biggest private sector lender, ICICI Bank said on Monday that it is going to hire more people this year. The number given by the private sector bank was in between 5,000-7,000 people.

The information was given by a senior official of the bank. Meanwhile, talking to media, ICICI Bank's Managing Director and CEO, Chanda Kochhar said that the bank was looking forward to declare bonus and increment for its employees this year.

She made this announcement during the inauguration of the 2,000th branch of the bank in Mumbai.

Rajiv Sabharwal will be the new ED of ICICI

Rajiv SabharwalMr. Rajiv Sabharwal will replace Mr. Sonjoy Chatterjee. ICICI Bank has announced that it has appointed Mr. Rajiv Sabharwal as its new executive director. He will be responsible for the Bank's retail banking operations. Mr. Sonjoy Chatterjee was the Executive Director of ICICI Bank.

ICICI is the 45th most valuable brand in world

icici-bankICICI Bank has ranked 45 among the 100 most valuable brands in the world. India's leading private sector lender ICICI Bank has a brand value of $14.5 billion.

As per a Google research on valuable brands in all across the globe the Indian bank has managed to find a place in top hundred lists. Moreover the ICICI Bank has become the first Indian brand to be listed in the BrandZ Top 100. ICICI Bank was the first Indian Bank to introduce retail banking in the country.

ICICI's ED will join Goldman Sachs

Sonjoy ChatterjeeThe Executive Director of ICICI Bank Mr. Sonjoy Chatterjee will soon join the US-based investment bank Goldman Sachs in India. As per sources it has been confirmed that the ED is going to join Goldman Sachs although there has not been any official announcement.

Chatterjee will be joining as Co-Chief Executive officer (CEO) at Goldman Sachs for India. Brooks Entwistle will also share the position with Chatterjee. However ICICI Bank spokesperson has declined to comment on this issue now.

ICICI in top 100 global brands

iciciAccording to the fifth annual Millward Brown OptimorBrandZ Top100 Most Valuable Global Brands 2010 list, the largest private sector bank, ICICI is in the Top 100 global brands in the world.

While the list was topped by Google, with a brand value of USD 14.5 billion, the Indian bank ICICI is the first Indian brand to feature in the BrandZ Top 100. Moreover, another company that made its debut in this reputed list was Infosys Technologies.

In fact, experts believe that with a brand value of USD 6.4 billion, the IT giant is a very strong contender of entering the top 100 list very soon.

ICICI posts a 35.32% surge in its net profit

ICICI posts a 35.32% surge in its net profitIndia's second largest bank, ICICI Bank has announced its financial results. According to ICICI officials the bank has managed to register an impressive amount of net revenue as well as net profit.

On year on year basis the firm's net profit has gone up by 35.32% in the current fiscal year. The profit after tax (PAT) has positioned at Rs 1,005.57 crore in the current year. It was at Rs 743.76 crore in the preceding year.

ICICI and HDFC post positive Q4 results

HDFC-ICICITwo of India's top private banks, ICICI Bank and HDFC bank have published their Q4 results.

While ICICI, the biggest private sector lender saw its best quarterly profits in the last two years, HDFC also did fairly well.

HDFC Bank saw its profits rise by 32.6 per cent, which is much higher than the market estimates.

ICICI saw an increase because of rise in fees income and also reduction in its operational costs.

ICICI Bank Q4 Net Up 35%

ICICI Bank Q4 Net 35%India's biggest largest private lender ICICI Bank has announced a 7 per cent growth in its net profit for the twelve month period ended on March 31, 2010.

The bank's net profit stood at Rs 4,025 crore ($896 million) as compared to Rs 3,758 crore ($837 million) during the corresponding period of 2009.

However, ICICI Bank's net income declined 14.2% to Rs 33,184.58 crore during the last financial year.

Home loans and auto loans to get expensive

Home loans and auto loans to get expensiveWith the kick-start to March 2010, many private banks have decided to hike their home loan and auto loan rates for the new borrowers. India's largest private sector bank, ICICI, for instance has decided to hike its auto loan by almost 25-50 basis points depending on the amount of the deal and tenure of the loan period.

Moreover, the bank has also decided to get over with its 8.25% home loan scheme.

Another banking and home finance major, HDFC bank has also taken a similar decision by withdrawing its 8.25% home loan scheme.

Deposit rates hiked by ICICI

ICICI-BankIndia's largest private sector bank has some good news for the depositors. ICICI on Thursday has announced a hike in the deposit rates. The rates would be effectively immediately. They have increased the rate with 25 basis points across different maturities.

This move has automatically hinted that the lending rates might go up in some time. The bank's deposit rate has now risen to 6.75% for the deposits having a 390-day maturity which was earlier a meager 6.5%. The 590-day maturity interest rates have gone up by 50 basis points to 6.75% which were earlier 6.25 percent.

Harley-Davidson, ICICI Bank ink MoU

Harley-Davidson, ICICI Bank ink MoUNew Delhi, Jan 7 :Harley-Davidson India and ICICI Bank on Thursday signed a Memorandum of Understanding (MOU) for a broad spectrum of banking services required by the bike manufacturer for the launch and operations of its business in India.

The memorandum was inked by Anoop Prakash, managing director, Harley-Davidson India and Vijay Chandok, senior general manager, ICICI bank at the 10th auto expo in New Delhi.

Buy ICICI Bank With Stoploss Of Rs 860

ICICIStock market analysts are of the view that investors can buy ICICI Bank stock to achieve an intraday target between Rs 890-900.

According to them, investors can buy the stock above Rs 872 with a strict stop loss of Rs 860.

Shares of the bank, on Thursday (Dec 10), closed at Rs 876.25 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 983.70 and a low of Rs 252.75 on BSE.

Current EPS & P/E ratio of the stock stood at 35.33 & 24.90.

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