ICICI Securities surges 10% to hit 52-week high post Q2 results

In the past two months, ICICI Securities has outperformed the market by surging 57 per cent, as compared to a 7 per cent rise in the S&P BSE Sensex.

Shares of ICICI Securities hit a 52-week high of Rs 314, up 10 per cent on the BSE on Wednesday, after the company reported a consolidated net profit of Rs 135 crore in September quarter (Q2FY20), up 1 per cent as against the corresponding period last year. The stock surpassed its previous high of Rs 310 recorded on September 24, 2019.

The company’s consolidated revenue declined 9 per cent to Rs 418 crore in Q2FY20, compared to a revenue of Rs 458 crore in Q2FY19 due to decline in retail broking revenues and regulatory changes in mutual funds distribution business.

ICICI Securities