Page 14 - Icici Bank

Bank shares dazzle; ICICI m-cap hits Rs 8 trn; SBI, Indian Bk soar up to 5%

Bank Nifty hit a new all-time high on Monday led by a rally in ICICI Bank post inline Q4 results. Analysts upbeat on future prospects of the private sector bank.

Stock to Watch, April 29: ICICI Bk, HCL Tech, YES Bk, Ircon, Maruti, Cipla

Stocks to Watch on Monday, April 29,2024: The net profit of private lender ICICI Bank rose by 17.4 per cent to Rs 10,708 crore in the fourth quarter of financial year 2023-24 (Q4FY24)

Mcap of 6 most valued firms rise Rs 1.30 trn; SBI, ICICI Bank top gainers

The combined market valuation of six of the top-10 most valued firms increased Rs 1,30,734.57 crore last week, with State Bank of India and ICICI Bank emerging as the biggest gainers in line with an overall positive trend in equities. Last week, the BSE benchmark advanced 641.83 points or 0.87 per cent. The valuation of the State Bank of India rallied Rs 45,158.54 crore to Rs 7,15,218.40 crore. ICICI Bank's market valuation rose Rs 28,726.33 crore to Rs 7,77,750.22 crore. Bharti Airtel added Rs 20,747.99 crore to Rs 7,51,406.35 crore, and that of ITC jumped Rs 18,914.35 crore to Rs 5,49,265.32 crore. The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) advanced by Rs 9,487.5 crore to Rs 6,24,941.40 crore, and that of Infosys went up by Rs 7,699.86 crore to Rs 5,93,636.31 crore. However, the mcap of Reliance Industries declined by Rs 26,115.56 crore to Rs 19,64,079.96 crore. The valuation of HDFC Bank dipped by Rs 16,371.34 crore to Rs 11,46,943.59 crore.

ICICI Bank Q4 result: Net profit up 17% at Rs 10,708 cr, NIM slips 4.40%

The private lender plans to raise funds by issuing debt securities and proposed a dividend of Rs 10 per share, subject to approval of the board

ICICI Bank Q4 result: PAT up 18.5% at Rs 11,672 cr, NII at Rs 19,093 cr

The bank's standalone net profit rose to a record Rs 10,707.5 crore in the January-March quarter, from Rs 9,122 crore in the same period a year earlier

ICICI Bank to report Q4 results on April 27; here's what analysts expect

ICICI Bank Q4 results preview: Analysts said ICICI Bank's margin trajectory and outlook, and deposit traction will be among the key monitorables

Explained: 17,000 ICICI Bank credit cards blocked after data breach

An old user was apparently able to get a look into a newly-acquired credit card customer's details because of the wrongful mapping, but the reverse was not possible.

17,000 credit cards mapped to wrong users, no misuse reported: ICICI Bank

The second largest private sector lender, however, said that no instances of any misuse have been reported because of the error, and also promised to compensate users for any financial loss

Major updates to ICICI Bank and YES Bank charges from May 1: Details here

ICICI Bank and YES Bank will implement revisions to their service charges. These revisions will also see the discontinuation of several account types

ICICI Securities Q4 results: Profit doubles to Rs 537 cr, revenue up 74%

Brokerage house ICICI Securities on Thursday reported a two-fold jump in profit after tax to Rs 537 crore for three months ended March 2024. In comparison, the company posted a profit after tax (PAT) of Rs 263 crore in the year-ago period, ICICI Securities said in a regulatory filing. The company's total revenue soared 74 per cent to Rs 1,544 crore in the fourth quarter, from Rs 885 crore in the January-March quarter of financial year 2022-23. The broking firm's total client assets reached about 7 lakh crore as of March 2024, marking a 19 per cent year-on-year (YoY) increase. Further, ICICI Securities has declared a second interim dividend of Rs 17 per share, taking the full-year dividend to Rs 29 apiece. For the full financial year FY24, the company posted a PAT of Rs 1,697 crore, marking a 52 per cent YoY increase, and revenue stood at Rs 5,051 crore for FY24, up 47 per cent from the preceding fiscal. Besides, the broking firm announced that its board of directors in its meetin

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Quantum MF objects to scheme of merger of ICICI Securities with ICICI Bank

Quantum Mutual Fund has objected to the scheme of merger of ICICI Securities with parent firm ICICI Bank, saying it is "flawed and bridled with irregularities" and will adversely affect minority shareholders of the broking firm. Last month, ICICI Securities announced that about 72 per cent of its shareholders voted in favour of delisting and subsequent merger with ICICI Bank, even as the majority of retail investors opposed the scheme. "The scheme of merger is flawed and bridled with irregularities," Quantum Mutual Fund MD and CEO Jimmy Patel said in his letter written last week to ICICI Bank and forwarded it to market regulator Sebi and the stock exchanges. In the eight-page letter, Patel said that the scheme will substantially and adversely affect the interest of unitholders of the scheme of Quantum Mutual Fund and as well as minority shareholders of ICICI Securities. Highlighting irregularities, Quantum Mutual Fund has listed out four major grounds for objecting the scheme such

Mcap of 7 most valued firms climb Rs 59,404 cr; Airtel, ICICI top gainers

The combined market valuation of seven of the ten most valued firms climbed Rs 59,404.85 crore in a holiday-shortened last week, with Bharti Airtel and ICICI Bank emerging as the biggest gainers. Stock markets were closed on Thursday on account of Eid-Ul-Fitr. Last week, Sensex dipped marginally by 3.32 points after a record-breaking rally. The BSE benchmark had settled at an all-time high of 75,038.15 on Wednesday. It scaled the lifetime peak of 75,124.28 on Tuesday. The market valuation of Bharti Airtel jumped Rs 19,029.37 crore to Rs 6,92,861.27 crore. ICICI Bank added Rs 15,363.23 crore, taking its valuation to Rs 7,75,447.63 crore. Reliance Industries' valuation climbed Rs 10,250.02 crore to Rs 19,85,797.70 crore, and that of Tata Consultancy Services (TCS) soared Rs 7,507.53 crore to Rs 14,47,343.55 crore. The market capitalisation (mcap) of ITC rallied Rs 2,809.06 crore to Rs 5,36,967.87 crore, while Infosys climbed Rs 2,303.73 crore to Rs 6,16,424.57 crore. State Bank of

Vishal Mega Mart said to pick Kotak, ICICI Bank for mega IPO: Report

Other banks are likely to be added to work on the IPO, the people said. The Gurugram-based company could raise between $850 million to $1 billion in the offering, they said

ICICI Bank credit card holders, beware: New lounge rules from April 1

Starting April 1, ICICI Bank credit card holders can avail one complimentary airport lounge access by spending Rs 35,000 in the preceding calendar quarter

ICICI Securities receives approval of shareholders for delisting

Brokerage will now become wholly-owned subsidiary of ICICI Bank again after six years

ICICI Securities slips 4% as shareholders approve dislisting plans

ICICI Securities experienced a 4.1 per cent decline at Rs 710 in early trading, while ICICI Bank witnessed a 1.3 per cent increase

ICICI Securities delisting gets nod, setting up merger with ICICI Bank

Among public institutional investors, which own a total 16.68 per cent in the company, 83.8 per cent voted in favour of the delisting

Norges Fund Investment Bank of Norway supports ICICI Securities delisting

Amid Quantum Mutual Fund voting against the proposed delisting of ICICI Securities, the largest public shareholder Norges Fund Investment Bank has voted in favour of the proposal of the stock broking arm of ICICI Bank. The foreign fund, which holds nearly 3.25 per cent stake in ICICI Securities, voted in favour on Thursday, the first day of e-voting, as per the information posted on the website of Norges Fund Investment Bank. The e-voting will remain open till March 26. The move of the Norway-based Norges Bank provided a shot in the arm of ICICI Securities' plan to delist itself as it needs two-thirds of the public shareholders' support to pass the resolution. However, Quantum Mutual Fund, which holds a 0.09 per cent stake in ICICI Securities, voted against the resolution on Thursday. Quantum Mutual Fund opposed the delisting as it did not find the swap share ratio lucrative to the shareholders of ICICI Securities. As per the scheme of arrangement, shareholders of ICICI Securitie

Proxy companies give approval for ICICI Securities delisting bid

Move will see ISec become wholly-owned subsidiary of ICICI Bank