Court accepts the bank's stance that Kochhar's petition has no legal basis as the lender is a private banking company and the petition seeks to contest purely private contractual terms
ICICI Bank sought dismissal of Kochhar's petition
At 8x FY21 estimated book, even as it is the most expensive lender, the stock remains among the preferred picks in the banking pack
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank
The stock price has given breakout on the daily chart by trading above the downward sloping trendline resistance.
While lack of clarity on outlook of insurance business has weighed on valuations of parent firms, retail loan growth and fee income need to be closely watched
On standalone basis, its net profit jumped to Rs 4,146 crore during the December 2019 quarter from Rs 1,605 crore in the year-ago period
Banking counters were leading the charge from the front with ICICI Bank becoming the biggest contributor toward's today's gain, ahead of its December quarter results tomorrow
As per estimates by Motilal Oswal Financial Services, the bank is poised to write-back provisions worth Rs 2,100 crore (Essar Steel), & Rs 400 crore (Rs 200 crore each from Ruchi Soya & Bhushan Power)
December quarter (Q3) was a mixed ICICI Bank's subsidiaries - namely ICICI Lombard, ICICI Securities (I-Sec), and ICICI Prudential Life Insurance (I-Pru Life)
The value of MF holdings in in ICICI Bank increased by Rs 2,900 crore in December
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank
The bank further stated that Kochhar flagrantly violated the ICICI Group Code of Business Conduct and Ethics.
TCS, HDFC, HUL, ICICI Bank and Kotak Mahindra Bank were the other bluechips which witnessed a rally in their market capitalisation
The fresh notice is more comprehensive and has cited the findings of former Justice Srikrishna panel, which was tasked to probe the quid-pro-quo transactions in ICICI Bank
Banking Regulation Act says that prior approval of the RBI is required to terminate the contract of a bank's chairman or managing director
The investment value of these assets is estimated at around Rs 100 crore
ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.
Rising share of retail loans, increased digitisation and an abating pool of stressed assets point to improving outlook and have helped the stock deliver 50 per cent returns last year