ICICI Bank Stock

The stock of ICICI Bank has made a good support base near Rs 340 levels and is currently indicating a trend reversal

The bank already has a retail branch at the local Manama Centre, it said in a statement

Foreign brokerage UBS raised its target price for the stock to Rs 620 from Rs 570, while Nomura raised the target to Rs 645 from Rs 610

In the past one-week, the stock of ICICI Bank has outpaced the market by surging 18 per cent after the government announced reduction in the corporation tax rates.

Saw Rs 120-crore loss in year-ago quarter

The stock hit a record high of Rs 375.40, up 2 per cent on the BSE, surpassing its previous high of Rs 375.25 touched on November 16, 2018, in an otherwise subdued market on Tuesday.

The stock dipped 6% in past two trading sessions after media report suggested that the bank's MD & CEO Chanda Kochhar was summoned by the SFIO in PNB scam

So far in 2017, shares of HDFC Bank gained 48%, while those of ICICI Bank have added 18%