Page 17 - Icici Bank

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

Car loan rates, terms and processing fees explained in one table

Processing fees and rules of top lenders listed to help you make a decision

High gap between credit, deposit growth to impact loan sales, NIMs: Report

The continuing gap between credit and deposit growth rates is likely to impact both future loan sales as well as net interest margins of banks, says a report. Credit off-take grew at 20.3 per cent in this fiscal so far while deposits grew at a slower pace of 13.6 per cent YTD, according to the report by Care Ratings. The gap between credit off-take and deposit growth rates has resulted in a lower liquidity coverage ratio (LCR) while private banks led by HDFC Bank are reporting lower LCR than their public sector peers. According to a Care Ratings analysis, HDFC Bank has seen the highest fall from 120 per cent in the July-September quarter of FY24 to around 102 per cent in the third quarter, followed by ICICI Bank and Axis Bank at 118 per cent each for both quarters. On the other hand, the largest lender SBI has around 140 per cent in the second quarter and around 137 per cent in the third quarter of the current fiscal, while PNB and BoB has over 140 per cent each for both quarters.

Mcap of 7 of most valued firms at Rs 65,302 cr; TCS, ICICI biggest gainers

The combined market valuation of seven of the top 10 most valued firms climbed Rs 65,302.5 crore last week, with Tata Consultancy Services and ICICI Bank emerging as the biggest gainers. Last week, the BSE benchmark Sensex climbed 663.35 points or 0.90 per cent, and the Nifty jumped 165.7 points or 0.74 per cent. Leading stock exchanges BSE and NSE conducted a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site. From the top-10 pack, TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC were the gainers, while Reliance Industries, Infosys and Life Insurance Corporation of India (LICI) faced erosion from their market capitalisation (mcap). The market valuation of TCS climbed Rs 19,881.39 crore to Rs 14,85,912.36 crore. ICICI Bank added Rs 15,672.82 crore, taking its valuation to Rs 7,60,481.54 crore. The market valuation of State B

Fri-yay! RIL, ICICI Bank, Tata Motors, Grasim, Adani Ports hit new highs

Zomato, Ambuja Cements, Cipla, Tata Motors DVR, United Spirits were among notable stocks from the S&P BSE 200 index that, too, hit their respective record highs

Sion Investment exits CMS Info; ICICI Bank ups stake in ICICI Lombard

Private sector lender ICICI Bank on Tuesday hiked its stake in ICICI Lombard General Insurance by 1.42 per cent

Arrest of Chanda Kochhar, her husband amounted to abuse of power by CBI: HC

The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay High Court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken. The absence of such circumstances renders the arrest illegal, it said. "Such routine arrest without application of mind and due regard to the law amounts to an abuse of power," the court said. The court also refused to accept the probe agency's contention that the arre

Rate sensitive shares trade mixed post RBI policy; SBI surges 6%

The Reserve Bank of India's Monetary Policy Committee (RBI MPC) on Thursday decided to keep the repo rate unchanged at 6.5 per cent for the sixth consecutive time.

RBI allows HDFC Bank group to buy up to 9.5% stake in ICICI Bank, 5 others

The group will also acquire stakes in Axis Bank, YES Bank Suryoday Small Finance Bank, IndusInd Bank, and Bandhan Bank

Arrest of Chanda Kochhar, husband in ICICI-Videocon loan case illegal: HC

The Bombay High Court on Tuesday held as "illegal" the arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her businessman-husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in an alleged loan fraud case. A division bench of Justices Anuja Prabhudessai and N R Borkar confirmed a January 2023 interim order passed by another bench granting the duo bail soon after their arrest in the case. The couple was arrested by the CBI on December 23, 2022, in connection with the Videocon-ICICI Bank loan case. They immediately moved the HC challenging their arrest and sought it to be declared as illegal. By way of an interim order, they also sought to be released on bail. On January 9, 2023, the HC, in its interim order, granted bail to the duo after coming down heavily on the CBI for making the arrest in a "casual and mechanical" manner and without application of mind. On Tuesday, the bench led by Justice Prabhudessai allowed the

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks

RBI's approval is valid for one year from the date of RBI's letter, i.e., till February 4, 2025

10-year govt bond yield could drop to 6.75% later in 2024: ICICI Bank

"We feel that beyond the middle of this calendar year, by the July-September quarter, we could see the benchmark bond yield touching at least 6.75% if not lower," said B. Prasanna

RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results

As stocks turn volatile post Q3 results, watch out for these key levels on the likes of ICICI Bank, Hindustan Unilever, CoForge and UltraTech Cement among others and plan your trading strategy.

Zydus Life, ICICI Bank: Stocks to buy in current market set-up

On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty has confirmed a bearish trend reversal, and could see further downside in coming days.