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    ICICIBANK   INE090A01021

ICICI BANK LIMITED

(ICICIBANK)
  Report
Delayed Quote. Delayed NSE India Stock Exchange - 11/26 06:25:28 am
722.2 INR   -3.84%
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ICICI Bank : IT, FMCG stocks drag Indian shares down; ICICI Bank hits record high

10/25/2021 | 01:24am EST

BENGALURU, Oct 25 (Reuters) - Indian shares fell on Monday, dragged by information technology and consumer stocks, while strong earnings from private sector lender ICICI Bank drove a key banking index to a record high.

The blue-chip NSE Nifty 50 index was down 0.3% at 18,059 by 0505 GMT, while the benchmark S&P BSE Sensex fell 0.3% to 60,617.93.

Shares of ICICI Bank rose 14.2% to an all-time high and helped the Nifty bank index reach a fresh peak, after the lender posted an about 25% surge in quarterly profit on Saturday.

The bank index rose 1.9%, while the fast moving consumer goods index and the IT sub-index fell 1.1% and 2%, respectively.

"For FMCG companies, the rural growth which was strong is slowly tapering and there are high input costs. Going forward, we might see a muted top-line with lower margins," said Anita Gandhi, director at Arihant Capital Markets in Mumbai, adding valuation concerns were pulling down IT stocks.

The Nifty mid-cap index was down 2.6%, while the small-cap index dropped 3%.

Analysts said the fall in small- and mid-cap stocks indicated retreating flows from retail investors after getting caught in a correction last week.

The Nifty mid- and small-cap indexes fell more than 4% and 5%, respectively, last week.

Meanwhile, the Nifty bank index has gained over 9% so far this month, outperforming a more than 2% gain in benchmark indexes.

"This outperformance is justified by the bank results so far and the trend may continue since there is valuation comfort in the banking segment in an otherwise overvalued market," said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

Domestic institutional investors sold $600 million worth of equities in capital markets last week while foreign investors offloaded about $343 million, Refinitiv data showed. (Reporting by Nallur Sethuraman and Gaurav Dogra in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
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Analyst Recommendations on ICICI BANK LIMITED
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Financials
Sales 2022 659 B 8 783 M 8 783 M
Net income 2022 220 B 2 934 M 2 934 M
Net Debt 2022 - - -
P/E ratio 2022 22,7x
Yield 2022 0,62%
Capitalization 5 012 B 66 782 M 66 827 M
Capi. / Sales 2022 7,61x
Capi. / Sales 2023 6,56x
Nbr of Employees 98 750
Free-Float 97,9%
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Mean consensus -
Number of Analysts 0
Last Close Price 722,20 
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Managers and Directors
Sandeep Bakhshi Chief Executive Officer, MD & Executive Director
Sandeep Batra President & Executive Director
Rakesh Jha Group Chief Financial Officer
Girish Chandra Chaturvedi Non-Executive Chairman
Ranganath Athreya Secretary, Compliance Officer & General Manager
Sector and Competitors