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Major Indian Bank ICICI (IBN) Continues March Upwards

  +Follow December 6, 2013 1:24PM
Tickers Mentioned:

Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for IBN
John Ablemann
19 Dec 14 14:03:18
$IBN ICICI Bank Limited (IBN): New Analyst Report from Zacks Equity Research ... http://t.co/y0mNj7Wgxx
James P Worthy
19 Dec 14 14:03:17
$IBN ICICI Bank Ltd (ADR) (NYSE:IBN) ATM Charges Hiked 2015 Jan 1 http://t.co/39IrXXvD1T
Market Int Center
19 Dec 14 12:40:01
Icici Bank $IBN Showing Resistance Near $11.92 ( http://t.co/FgVwnx02Dv )
Harry Walkman
19 Dec 14 12:31:54
$IBN ICICI Bank Limited (IBN): New Analyst Report from Zacks Equity Research ... http://t.co/ilN5W8XGJI
19 Dec 14 12:13:06
December scheduled #Stock #Splits http://t.co/YDqu0CxgkW $MARA $GNTX $INFY $IBN $HAIN #equities #stocks
19 Dec 14 08:24:58
$IBN up 0.8% to 11.76 after bullish trade setup #stocks #options #trading http://t.co/g1aHKRJg1A
19 Dec 14 00:10:23
$ECIG 400% upside buyout target of $0.50. $200M revenue expected in 2015 $UGAZ $SONS $IBN traders read: http://t.co/xi3978GuDs
Trent Watson
18 Dec 14 18:10:10
HDFC Leads India Bank Rebound As Rupee Falls Further http://t.co/PhohBgsyVo #IBDNews via @IBDinvestors $HDB $IBN $TTM
Trends Trades
18 Dec 14 15:58:13
Low #oil price doesn't just help US, helps #Indian #economy as well. Got into $IBN at $11 as a general #middleclass #uplift play on #India.
Jodi Lessmann
18 Dec 14 11:11:03
December scheduled #Stock #Splits http://t.co/cxdVjrdkkt $INFY $IBN $HAIN $MARA $GNTX #equities #stocks
Dimitra DeFotis
18 Dec 14 09:26:17
India Market Gains Ground, Watch The Rupee http://t.co/rFfoZcecWy via @barronsonline $INDY $SMIN $INCO $EEM $IBN $INFY
Day Trade Numbers
18 Dec 14 07:46:43
$IBN close to support and resistance area: 11.41 to 11.57 http://t.co/BGu7MwglEl
Investment Standard
17 Dec 14 21:36:14
Commented on: "Indian Banking: A Low Competitive Environment With Great Opportunit... http://t.co/QIcj3SEXjm $HDB $IBN $AXBKY
Jodi Lessmann
17 Dec 14 12:03:05
December scheduled #Stock #Splits http://t.co/cxdVjrdkkt $INFY $IBN $HAIN $MARA $GNTX #equities #stocks
17 Dec 14 11:46:03
$ECIG buyout target of $0.50. 400% upside. Positive EBITDA and $200MM revenue in 2015 $UGAZ $SONS $IBN traders read: http://t.co/xi3978GuDs
17 Dec 14 11:11:02
$IBN 20150116 Block Trade: 1701 trade. ~$1.9 MM notional value.
17 Dec 14 07:24:01
$IBN 20141219 Block Trade: 270 trade. ~$0.3 MM notional value.
17 Dec 14 07:18:07
$IBN: ICICI Bank India Launches 'Pockets by ICICI Bank' for Non Resident ... http://t.co/QQbWhbeMff http://t.co/UOQE36q9c7
17 Dec 14 07:13:03
$IBN: ICICI Bank India Launches 'Pockets by ICICI Bank' for Non Resident ... http://t.co/yzfBRLzPmE http://t.co/J26yNBoQJB
17 Dec 14 06:57:04
$IBN - ICICI Bank India Launches 'Pockets by ICICI Bank' for Non Resident Indian (NRI) Customers http://t.co/i7WPDzIKIv
17 Dec 14 06:57:03
$IBN - ICICI Bank India Launches 'Pockets by ICICI Bank' for Non Resident Indian (NRI) Customers http://t.co/3NLGpM9pDC
17 Dec 14 06:55:08
#ICICI Bank : India Launches 'Pockets by ICICI Bank' for Non Resident Indian (... http://t.co/K2MnURwPAI $IBN
17 Dec 14 02:48:06
$IBN $SNHY: Stocks in news: ICICI Bank (NYSE:IBN), Sun Hydraulics Corp ... http://t.co/a8kVYdXC6D http://t.co/vg73HEyShl
17 Dec 14 02:27:49
IBN -2.91% Stock Charts $IBN ICICI Bank Ltd. ADS (NYSE) Last Updated: 12/17/2014 04:27:54 IBN Stock Chart - 1 http://t.co/og8Oi8hqUt
Siva Kumar Raju
16 Dec 14 21:34:55
$HDB $IBN #Indian Banking: A Low #Competitive Environment With Great Opportunity http://t.co/8sHQLUogUN
Livevol Community
16 Dec 14 09:00:08
IV30(TM) GAINER $YNDX +26.58% $IBN +21.63% $CPA +15% $WTW +13.26% $NRF +11.79% $A +11.65% $KNDI +11.51% http://t.co/gwzPxhFaBv
Livevol Community
16 Dec 14 09:00:03
HIGH CALL VOLU $IWR 2075% $MW 1843% $TLM 876% $IBN 654% $ALU 618% $ARMH 587% $APO 462% $CVS 414% http://t.co/hRzimhFy10
Seeking Alpha
16 Dec 14 07:50:04
Indian Banking: A Low Competitive Environment With Great Opportunity http://t.co/RmKNEwBi2I $HDB $IBN
16 Dec 14 05:03:04
$JD $IBN: Asian Stocks Mostly Lower: Alibaba Group (BABA), Taiwan ... http://t.co/2EOmN79EfA http://t.co/PySJgJKNwP
15 Dec 14 13:03:10
December scheduled #Stock #Splits http://t.co/YDqu0CxgkW $MARA $GNTX $INFY $IBN $HAIN #equities #stocks
15 Dec 14 08:15:56
Indian banks breaking down major support. $HDB, $IBN
Seeking Alpha
15 Dec 14 07:52:44
India's IIP Shock Opens Room For Rate Cut http://t.co/GqNepIHYEL $IBN $INFY $INP
15 Dec 14 06:15:07
ICICI Bank : Technical Coverage on Banks Stocks - National Penn Bancshares, ING Groep, Toronto-Dominion Ban... http://t.co/J09No91hZX $IBN
13 Dec 14 07:49:22
Bearish #ADX Crossovers $DD $DE $EEP $GD $GM $GS $HON $IBN $IPG $IVZ $JPM $LKQ $DE http://t.co/RLE78Awi6Z #stocks #stockmarket #trading
13 Dec 14 03:10:27
IBN -1.95% Stock Charts $IBN ICICI Bank Ltd. ADS (NYSE) Last Updated: 12/13/2014 05:10:29 IBN Stock Chart - 1 http://t.co/9fBEkq2phd
12 Dec 14 19:05:15
#SouthKorea's Industrial Bank set to invest $Ibn in #Russia's Far East #shipping sector http://t.co/sWmvSBeSnA
  +Follow December 6, 2013 1:24PM



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