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Major Indian Bank ICICI (IBN) Continues March Upwards

  +Follow December 6, 2013 1:24PM
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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI Bank (IBN) leading the way. ICICI saw significant gains the last two days, erasing a sizable portion of the banks YTD losses.

IBN Rises, Falls with Indian Economy

ICICI has not been immune to the contracting Indian economy, shedding some 15 percent of its valuation in 2013. Internal and external positive economic developments have assuaged fears their slide would exacerbate, leading many analysts to cite ICICI as a potential turnaround.

On the macro level, India has stopped the bloodletting with the installation of Raghuram Rajan as the Reserve Bank Chief. Rajan immediately instituted sweeping economic change to address monetary concerns, and has tempered Indian economic slide by strengthening India’s reserves greatly. ICIC has also benefited from Rajan’s move to issue more bank licenses in the country, expanding the reach of banks into previously “underbanked” rural areas of the country.

IBN Among Strongest Players in Segment

While all boats rise in high tide, ICICI has been singled out as a particularly strong contender to rebound in the coming months. In October Ajay Bodke of Prabhudas Liadher cited ICICI as the second strongest large cap Indian bank play, just behind HDFC  Bank Ltd. (HDB) . ICICI also received high marks from Dhananjay Sinha of Emkay Global Financial Services.

Early December’s spike can be specifically attributed specifically to the finalization of a deal with steel manufacturer Stemcor to assist that company with a multibillion dollar asset sale.

On Dec. 6 ICICI rose 4.44 percent to hit $38.54 a share. Though the company’s shares were down 18.9 percent on the year prior to the day’s trading, they have experienced a nice uptick the last three months, gaining 18.5 percent in that time frame.

Results for IBN
Franco Clark
19 Apr 14 16:14:51
$IBN How mobile money is changing Asia http://t.co/m4gODjpKGF
Franco Gall
18 Apr 14 16:25:26
$IBN How mobile money is changing Asia http://t.co/OjPyNNUIBg
Stock Signaling
18 Apr 14 14:01:09
Profitable Stocks: Recently Upgraded: $RNR $AINV $MCC $V $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM http://t.co/3gvJLENZtD
Derald Muniz
18 Apr 14 07:06:25
$IBN is on B/O watch. Battle Stations (well, rest up on the 3-day weekend first lol) http://t.co/qLM8JdP6Ug
Colin Kuberski
18 Apr 14 00:19:33
$IBN Indian ADRs: ICICI surges 3%, HDFC Bank gains 1% http://t.co/uS9EWDdU3e
Paris
17 Apr 14 18:17:12
RT @StockSignaling: Profitable Stocks: Recently Upgraded: $AINV $MCC $V $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM $ceo ht…
Stock Signaling
17 Apr 14 14:01:12
Profitable Stocks: Recently Upgraded: $AINV $MCC $V $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM $ceo http://t.co/3gvJLENZtD
Teo Black
17 Apr 14 03:16:30
$IBN How mobile money is changing Asia http://t.co/VIgKkEkncF
Colin Kuberski
17 Apr 14 01:39:16
$IBN How mobile money is changing Asia http://t.co/IheCKOIgZ0
Colin Kuberski
16 Apr 14 23:49:35
$IBN US stocks rise for third straight day http://t.co/A3bFnByDBQ
Colin Kuberski
16 Apr 14 22:09:13
$IBN Market to open on positive note: Ventura Securities http://t.co/duZWXIdrOf
Stock Herald
16 Apr 14 17:34:33
$IBN: How mobile money is changing Asia http://t.co/b7IEBSgxkZ
Pike Gall
16 Apr 14 14:18:30
$IBN National Bank of Greece Falls http://t.co/8VxepzuamS
Stock Signaling
16 Apr 14 14:01:19
Profitable Stocks: Recently Upgraded: $AINV $MCC $V $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM $ceo http://t.co/3gvJLENZtD
Colin Kuberski
16 Apr 14 11:51:03
$IBN Why India Is The Best Of The BRICS http://t.co/ZzVTsq683W
Seymour Alberta
16 Apr 14 04:24:34
$IBN National Bank of Greece Falls on Dilution Fear http://t.co/4wood7j8lH
Colin Kuberski
16 Apr 14 03:28:08
$IBN National Bank of Greece Falls on Dilution Fear http://t.co/WaKPuBuYG2
Seymour Alberta
15 Apr 14 23:47:06
$IBN US stocks end higher following upbeat earning reports http://t.co/58KpMiCgBJ
Seymour Alberta
15 Apr 14 22:43:34
$IBN Banks, metals & auto gain, IT drags; Sensex consolidates http://t.co/O00i7fNzY4
Seymour Alberta
15 Apr 14 21:00:34
$IBN Indian ADRs: Infosys declines 4.7%, Tata Motors slips 4.4% http://t.co/z1AkMyqdwI
Colin Kuberski
15 Apr 14 18:19:04
$IBN Citigroup's positive earnings report lead US stocks higher http://t.co/QxWZ6LY8ff
Colin Kuberski
15 Apr 14 17:06:07
$IBN Market may open on flat to positive note: Ventura http://t.co/Kwd6GM1MIY
Colin Kuberski
15 Apr 14 16:55:03
$IBN Indian ADRs: Infosys gains 4.5%, Tata Motors rises http://t.co/P36hDqtd9k
Stock Signaling
15 Apr 14 14:01:18
Profitable Stocks: Recently Upgraded: $MCC $V $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM $ceo $GST http://t.co/3gvJLENZtD
Seymour Alberta
15 Apr 14 12:55:06
$IBN Why India Is The Best Of The BRICS http://t.co/vxO7gv5W3Y
StockNews24
15 Apr 14 09:06:02
$IBN - National Bank of Greece Falls on Dilution Fear -> http://t.co/SphpTAyavO #stock #stocks #stockaction
Media Sentiment
15 Apr 14 08:55:41
$IBN received a new alert. Find out why at http://t.co/WHJp8eTsSr #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 259
Market Int Center
15 Apr 14 08:48:38
Icici Bank $IBN Showing Bullish Technicals With Support At $42.49 ( http://t.co/OFub14aAoh )
Charles Jolivet
15 Apr 14 07:38:34
RT @AlertTrade: via #AlertTrade SHORT Seller Alert $IBN - ICICI BANK #ShortSeller #Stocks http://t.co/VS8RO0UwVJ
Day Trade Alerts
15 Apr 14 07:33:42
via #AlertTrade SHORT Seller Alert $IBN - ICICI BANK #ShortSeller #Stocks http://t.co/VS8RO0UwVJ
Seymour Alberta
14 Apr 14 23:42:07
$IBN Citigroup's positive earnings report lead US stocks higher http://t.co/AxtKKw9hpM
Colin Kuberski
14 Apr 14 23:31:04
$IBN Citigroup's positive earnings report lead US stocks higher http://t.co/QxWZ6LY8ff
Colin Kuberski
14 Apr 14 20:42:02
$IBN Indian ADRs: Infosys gains 4.5%, Tata Motors rises http://t.co/P36hDqtd9k
Donte Aldaine
14 Apr 14 20:06:06
$IBN Indian shares hit by profit-ta http://t.co/LluiJNOv2R
Stock Signaling
14 Apr 14 14:01:12
Profitable Stocks: Recently Upgraded: $MCC $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM $ceo $GST $CFR http://t.co/3gvJLENZtD
Mr.Incredible
14 Apr 14 07:39:53
$ECOL $IBN HOD
Mr.Incredible
14 Apr 14 07:24:50
$IBN buyers are stepping in. There was buying in May 17 2014 $48 Call last week.
Market Int Center
14 Apr 14 05:40:34
Icici Bank $IBN Trading Near $43.92 Resistance Level ( http://t.co/cO5B6EsDUh )
Svelteei
13 Apr 14 15:15:29
$IBN Indian shares hit by profit-ta http://t.co/dXcdwm8ydQ
Stock Signaling
13 Apr 14 14:01:11
Profitable Stocks: Recently Upgraded: $MTB $PSEC $GMLP $SB $SDRL $SFUN $IBN $HTGC $EVC $LADR $JPM $ceo $GST $CFR http://t.co/3gvJLENZtD #dow
Vaughan Lowsley
13 Apr 14 09:49:45
$IBN Indian shares hit by profi http://t.co/GDS64L5ZZ7
				
				
  +Follow December 6, 2013 1:24PM
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