ICICI Bank crosses 3 trillion market cap for the first time - Sarkari Naukri Sms

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Saturday, October 26, 2019

ICICI Bank crosses 3 trillion market cap for the first time

ICICI Bank Ltd crossed the ₹3 trillion market capitalization for the making it the country's fourth lender to achieve this milestone. The stock touched a fresh record high of ₹466 on the BSE, up 2.3% from its previous close. The scrip traded at ₹464 on the BSE, up 2.1%, with a market capitalization of ₹3.01 trillion. The Sensex fell 0.51% to 38,833.22 points. ICICI Bank's stock has gained 6.6%, while year-to-date it has advanced 28%. Earlier, HDFC Bank Ltd, State Bank of India and Kotak Mahindra Bank had achieved this landmark. HDFC Bank remains India's most valued bank with a market cap of ₹6.70 trillion, followed by Kotak Mahindra Bank with ₹3.02 trillion. The Foreign institutional investors (FII) holding in ICICI Bank has come down by 2.6% quarter on quarter, the latest shareholding pattern shows.  This can trigger its invisibility multiplier in index, getting changed to 1 from 0.5. This will increase in doubling weight and could see inflows of $1.20 billion. Bloomberg Quint also reported, quoting Morgan Stanley, that there was a high probability of weight increase in ICICI Bank on MSCI, which could see inflows of $900 mln. ICICI Bank will announce its September quarter earnings on 26 October. According to 21 Bloomberg analyst estimates, the lender is expected to report a profit of ₹1270.40 crores.ICICI Bank to report a substantial pre-provisional operating profit growth of 28% year-on-year led by healthy loan growth (15% YoY) and better net interest income growth (24% YoY). NIM will remain stable quarter-on-quarter.

from Current Affairs 2019 for Competitive Exams Current Affairs Today ICICI Bank Ltd crossed the ₹3 trillion market capitalization for the making it the country's fourth lender to achieve this milestone. The stock touched a fresh record high of ₹466 on the BSE, up 2.3% from its previous close. The scrip traded at ₹464 on the BSE, up 2.1%, with a market capitalization of ₹3.01 trillion. The Sensex fell 0.51% to 38,833.22 points. ICICI Bank's stock has gained 6.6%, while year-to-date it has advanced 28%. Earlier, HDFC Bank Ltd, State Bank of India and Kotak Mahindra Bank had achieved this landmark. HDFC Bank remains India's most valued bank with a market cap of ₹6.70 trillion, followed by Kotak Mahindra Bank with ₹3.02 trillion. The Foreign institutional investors (FII) holding in ICICI Bank has come down by 2.6% quarter on quarter, the latest shareholding pattern shows.  This can trigger its invisibility multiplier in index, getting changed to 1 from 0.5. This will increase in doubling weight and could see inflows of $1.20 billion. Bloomberg Quint also reported, quoting Morgan Stanley, that there was a high probability of weight increase in ICICI Bank on MSCI, which could see inflows of $900 mln. ICICI Bank will announce its September quarter earnings on 26 October. According to 21 Bloomberg analyst estimates, the lender is expected to report a profit of ₹1270.40 crores.ICICI Bank to report a substantial pre-provisional operating profit growth of 28% year-on-year led by healthy loan growth (15% YoY) and better net interest income growth (24% YoY). NIM will remain stable quarter-on-quarter. https://ift.tt/2WbVCki

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