Moneycontrol Bureau India’s largest private sector lender ICICI Bank repatriated around Rs 400 crore (or 75 million Canadian dollar) capital from its wholly owned subsidiary in Canada.
ICICIBANK 1,233.05 13.65 (1.12%)
Credit Suisse neutral on ICICI Bank post Q4 earnings
Here’s what to expect from ICICI Bank Q4 earnings
No evidence of money laundering by ICICI, Axis, HDFC Bank: RBI
The Reserve Bank of India has clarified that there is no transactional evidence of money laundering found in the top three private sector banks (ICICI Bank, HDFC Bank and Axis bank) involved in the Cobrapost expose.
ICICIBANK 1,233.05 13.65 (1.12%) HDFCBANK 712.20 -2.85 (-0.40%) AXISBANK 1,468.35 -9.80 (-0.66%)
ICICI Bank to grow personal loans, credit card business
Haryana govt bars ICICI Prudential for 3 yrs
The Haryana government has barred ICICI Prudential Life Insurance for three years from doing any further business with it or any of its departments for “intentionally delaying” the process of distribution of annuity to land owners and failure to carry out commitments.
ICICIBANK 1,233.05 13.65 (1.12%)
ICICI Bank moves AP High Court against Deccan Chronicle’s restructuring
Analysis: ICICIBANK (IBN)
Reply
Today’s pick is ICICIBANK ICICIBANK 1,233.05 13.65 (1.12%). The stock started the year with a downward move to reach Rs. 800 levels. After finding support for a couple of weeks the stock started its up-ward movement. It saw the 52 weeks high of Rs. 1,210 in February, but since then was on a down-trend to find support on the trend-line. In the last three months, the stock moved +2% same as that of the Nifty’s.
Oscillator RSI and CMO are in no man’s land. The stock is currently trading in the upper side of Bollinger bands. Short-term technical just saw 4X9 and 4X18 bullish SMA cross-over.
The MACD line has just penetrated the signal line in a bullish manner. However, the Long-term and short-term GMMA lines are contracting, unable to provide any outlook for the stock.
ICICIBANK’s average correlation with the Nifty is 0.82 which is positive and very strong. The scrip will be closely replicating movement of Nifty. NIFTYBEES 610.20 3.98 (0.66%)
ICICIBANK has a historical volatility in the range of 0.3 to 0.8. The scrip’s volatility is currently in the lower end of the range.
Analysts have positive expectations regarding this stock. Less than expected earnings might hit the street expectations in the coming reviews and might impact the stock as well.
Given these technicals, we suggest a short-term Hold. A long-term call could be taken depending on the price action around Rs. 1,200 levels. It is also suggested to have tight trailing stop-losses level to book profits in case of a sudden trend-reversal.
Related articles
Google+
ICICI Bank to sell 25-kg pledged gold to recover loans
It further said: “In the event any surplus amount is realised from this auction, the same will be refunded to the concerned borrower and if there is any deficit post the auction, the balance amount shall be recovered from the borrower through appropriate legal proceedings. ” The private sector lender said auction would take place at ICICI Bank branches in areas including Varanasi, Lucknow, Meerut, Kanpur, Gorakhpur and Delpanderva.
ICICIBANK 1,233.05 13.65 (1.12%)
ICICI Bank gets USD 100 million from British arm
This comprises redemption of USD 50 million of preference share capital and return of USD 50 million of equity capital, the country’s largest lender ICICI Bank said in a statement. Also read: Rs 40Kcr divestment target stretched but achievable: ICICI “ICICI Bank UK had a capital adequacy ratio of 31. 5 per cent as of December 2012.
ICICIBANK 1,233.05 13.65 (1.12%)