ICICI Bank has moved higher by nearly 6% at Rs 943, extending its previous two day’s rally, on Bombay Stock Exchange (BSE).
Shares of private sector lender have rallied 20% from Rs 784, in past three trading days as compared to 13% rise in the BSE banking share index Bankex.
ICICI Bank is planning to launch 500 gramin branches during the current financial year 2013-14.
The bank has already launched 308 gramin branches to provide basic banking services in unbanked villages and plan to scale it up to 500 this fiscal, the PTI report suggests quoting ICICI Bank Executive Director Rajiv Sabharwal.
The bank’s substantial branch expansion in the past three to four years and strong capital adequacy has position the bank to grow its loan book at faster rate than system average as and when business environment turns conducive, says analyst at Angel Broking in report dated August 1.
Analyst maintains Buy recommendation on the stock, from a medium term perspective, with a target price of Rs 1,068.
Shares of private sector lender have rallied 20% from Rs 784, in past three trading days as compared to 13% rise in the BSE banking share index Bankex.
ICICI Bank is planning to launch 500 gramin branches during the current financial year 2013-14.
The bank has already launched 308 gramin branches to provide basic banking services in unbanked villages and plan to scale it up to 500 this fiscal, the PTI report suggests quoting ICICI Bank Executive Director Rajiv Sabharwal.
The bank’s substantial branch expansion in the past three to four years and strong capital adequacy has position the bank to grow its loan book at faster rate than system average as and when business environment turns conducive, says analyst at Angel Broking in report dated August 1.
Analyst maintains Buy recommendation on the stock, from a medium term perspective, with a target price of Rs 1,068.
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