ICICI Bank gains 5% in weak market after posting Rs 1,980 cr profit in Q1

Shares of ICICI Bank rallied 5 per cent to Rs 435 on the BSE on Monday in early morning trade, after the bank reported a standalone net profit of Rs 1,908 crore in June quarter (Q1FY20), mainly on account of lower provisioning for bad loans and higher retail loan growth. The private sector lender had posted net loss of Rs 120 crore in the same period a year ago.

The stock was trading close to its all-time high level of Rs 444 touched on June 27, 2019, on the BSE in intra-day trade. The trading volumes on the counter