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.

After kicking off the 2,000th division of the bank in Mumbai, ICICI Bank MD and CEO Chanda Kochhar said that the bank has also announced bonus and increments for its staff.

ICICI Bank has become the first private sector bank to hit this landmark, giving it a wide distribution reach in India.

The bank aims to add more arms and ATMs in the existing financial.

On consolidated basis, ICICI Bank recorded a substantial rise of 79.27% in its net profit to Rs 13,418 million for the three month period ended March 31, 2010 as against Rs 7,484.40 million for the quarter ended March 31, 2009.

Total Income fell by 4.61% to Rs 162,120.20 million for the quarter from Rs 169,955.90 million in March 2009.