Business Standard

ICICI Bank shares surge nearly 5 pc, m-cap soars Rs 8,990 cr


Press Trust of India New Delhi
Shares of ICICI Bank surged nearly 5 per cent today, adding Rs 8,990.57 crore to its market valuation, even as the company posted its maiden quarterly loss in more than a decade for the June quarter.
The bank's stock jumped 4.76 per cent to settle at Rs 307.25 on the BSE. Intra-day, it gained 5.13 per cent to Rs 308.35.
On the NSE, shares of the company soared 4.87 per cent to end at Rs 307.50.
The company's market valuation surged Rs 8,990.57 crore to Rs 1,97,632.57 crore.
In terms of the equity volume, 29.31 lakh shares of the company were traded on the BSE and over 5 crore shares changed hands on the NSE during the day.
Posting its maiden quarterly loss in more than a decade, ICICI Bank on Friday reported a net loss of Rs 119.5 crore for the three months to June due to higher provisioning for bad loans.
However, on a consolidated basis, ICICI Group posted a meagre profit of Rs 4.93 crore, compared to Rs 2,604.73 crore a year ago.
Total income on consolidated basis rose to Rs 29,174.12 crore for the quarter under review, as against Rs 26,517.57 crore in the same period of the previous fiscal, ICICI Bank said in a statement.

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First Published: Jul 30 2018 | 5:20 PM IST

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