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ICICI Bank shares soar nearly 9% intra-day; m-cap rises by Rs 9,519 cr

Press Trust of India  |  New Delhi 

shares soared nearly 9 per cent in intra-day trade today after the company denied alleging covering up of bad loans.

The stock jumped 8.57 per cent to Rs 345.50 in intra-day on BSE. It finally ended at Rs 332.95, up 4.64 per cent on BSE.

was the top gainer among the BSE 30-share blue chip basket.

On NSE, shares of the company gained 4.17 per cent to close at Rs 332. During the day, the company's scrip surged 8.51 per cent to Rs 345.85.

Led by the smart jump in the stock price, the company's market valuation zoomed Rs 9,519.24 crore to Rs 2,14,176.24 crore on BSE.

In terms of equity volume, 33.78 lakh shares of the company were traded on BSE and over seven crore shares changed hands on NSE during the day.

In a clarification to BSE yesterday, the company said, the media report 'masked bad loans through change in accounting policy' is a mischievous and motivated attempt to malign the image of ICICI Bank in the eyes of its investors.

The bank's accounts are audited by whose audit report and audit opinion form part of the bank's annual report, the filing said.

The bank has made full disclosure in its annual report, investor presentations and analysts calls, it added.

Meanwhile, buying was also seen in other bank stocks, with surging 3.86 per cent and SBI rising 2.53 per cent on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 09 2018. 17:50 IST