Shares ICICI Bank leapt 7 per cent to Rs 418.65 on the BSE on Monday after the lender reported six-fold jump in standalone net profit at Rs 4,251 crore in quarter ended September 2020 (Q2FY21) on account of growth in net interest income (NII) and lower credit cost as the bank did not make Covid-related provisions. It had posted a net profit of Rs 654.9 crore in the July-September 2019 (Q2FY20).
Shares of ICICI Bank extends its gains into fourth straight day, up 2.2 per cent to trade at Rs 388.85 on the BSE on Tuesday after Societe Generale on Monday offloaded shares of the bank worth nearly Rs 341 crore through an open market transaction.
"As per the block deal data on the BSE, 9 million scrips of the private lender were sold by Societe Generale at a price of Rs 378.6 per scrip. The total deal value stood at Rs 340.74 crore, said a PTI report.
Companies in India are selling equity at an unprecedented rate, seeking to prepare themselves for what’s forecasted to be the economy’s first contraction in four decades.
The country’s firms have sold $8.9 billion worth of new shares year-to-date, the most on record for such a period, according to data compiled by Bloomberg. Banks account for more than half the total, having raised $5.6 billion this year.
Shares of ICICI Bank gained as much as 3 per cent to Rs 374.15 on the BSE on Tuesday after the private lender launched its qualified institutional placement (QIP), setting the floor price at Rs 351.36 per share.
The bank plans to raise up to Rs 15,000 crore to support business growth and create a buffer to absorb any shock from the economic disruption caused by the coronavirus pandemic.
Stocks traded in the green in the opening session on Thursday as market benchmark SENSEX jumped over 700 points and stood at 30,619.77, amid strong investment. Meanwhile, Nifty rose more than 200 points to 8,952.70.
Sensex components like HDFC, ICICI Bank, ONGC, Tech Mahindra, Axis Bank, and Hero MotorCorp were trading on a positive note. All NSE components were trading in the green, with Nifty Pharma and Financial Services gaining the highest.
The total market capitalisation of companies listed on the Bombay Stock Exchange (BSE) hit an over 32-month low on Thursday as the benchmark indices crashed over 7 per cent after the World Health Organization (WHO) declared the worldwide outbreak of the new coronavirus as pandemic.
Investors had lost a whopping nearly Rs 11 trillion in the stock markets till 11:10 am today. The total investor wealth, measured in terms of the cumulative market value of all listed stocks on the BSE, fell by Rs 10.97 trillion to Rs 126.15 trillion, exchange data shows.
NEFT Timings: Customers of SBI, HDFC Bank, Axis Bank, Punjab National Bank, ICICI Bank or any other commercial lender can do National Electronic Funds Transfer (NEFT) transactions 24×7 from today. The facility will now be available on any day of the week or month, including holidays. The Reserve Bank of India (RBI) has allowed this facility to be available at all times throughout the year.
For smooth settlement of NEFT transactions, the RBI has decided to provide additional collateralised intra-day liquidity facility.
Chanda Kochhar, ICICI Bank's former managing director and chief executive officer, has moved the Bombay High Court, challenging the decision of the bank's board earlier this year to terminate her employment and claw back the bonuses and stock options she received between April 2009 and March 2018.
A division Bench of the high court comprising Justice Ranjit More and Justice Makarand Karnik will hear Kochhar's plea on December 2. With this, the stage is set for an intense legal battle between the bank and its former CEO.
Shares of HDFC Asset Management Company (AMC), ICICI Prudential Life Insurance (ICICI Pru) and Polycab India hit their respective all-time highs on Thursday after their inclusion in the MSCI Global Standard Index with effect from November 26, 2019.
Polycab India surged 7 per cent to Rs 915, surpassing its previous high recorded on October 30 in the intra-day trade. In the past one month, the stock has rallied 32 per cent against an eight per cent gain in the S&P BSE Sensex.
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