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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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

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
Kevin B. Bantz
31 Jan 15 14:09:29
#INDIA Stock Screener - Charts india marketcap http://t.co/IIF1zdhxfi $INFY $TTM $IBN $SENSEX $BSE $INDY $INDL http://t.co/IIF1zdhxfi
Mark Trader
31 Jan 15 11:37:46
http://t.co/vJ93JPRWBF has the most reliable picks in the market. The move fast and never fail. $IBN $GNW $WPX $CERS $MT $ODP $FCAU
Rosner Stocks
30 Jan 15 21:48:45
Stocks Trending Now: http://t.co/0kBSoPZVDp $GSVI $ARMZF $GIGA $CFSU $ACLP $TSCHF $GCNG $IBN $MNRUD $NWFFF $EPRF $LFC ~
Stockmarketsvane
30 Jan 15 17:59:35
Swing Buy Picks: $ACT, $AGN, $AIV, $AUO, $CUBE, $CVD, $DKS, $DPS, $DUK, $EQR, $GGP, $HCN, $HCP, $IBN, $IRM, $MNST http://t.co/MEMMoOdJf6
Mark Trader
30 Jan 15 14:52:08
http://t.co/vJ93JPRWBF has the most reliable picks in the market. The move fast and never fail. $IBN $GNW $WPX $CERS $MT $ODP $FCAU
Quantpost Financial
30 Jan 15 11:41:22
$IBN News: "Rising bad loan provisions take down Indian banks $IBN $BBKQY $HDB …" http://t.co/VGJd64iNFj Board view: https://t.co/zglKYaGqJX
SA Breaking News
30 Jan 15 11:41:21
Rising bad loan provisions take down Indian banks http://t.co/mXuu8AQrGs $IBN $BBKQY $HDB $EPI
Stock Trade Alerts
30 Jan 15 11:04:07
ICICI Bank $IBN Stock Falls Today as Asset Quality Worsens http://t.co/KRMMhzRvMC
Mark Trader
30 Jan 15 09:52:51
http://t.co/vJ93JPRWBF has the most reliable picks in the market. The move fast and never fail. $IBN $GNW $WPX $CERS $MT $ODP $FCAU
TheStreet Alerts
30 Jan 15 09:38:09
ICICI Bank $IBN Stock Falls Today as Asset Quality Worsens http://t.co/i4RrMmvHEN
Trader Daily
30 Jan 15 09:38:04
ICICI Bank $IBN Stock Falls Today as Asset Quality Worsens http://t.co/bJ6KBhMUeI
Andrew Meola
30 Jan 15 09:34:04
ICICI Bank $IBN Stock Falls Today as Asset Quality Worsens http://t.co/NZy20BngGa
TheStreet Banking
30 Jan 15 09:34:03
ICICI Bank $IBN Stock Falls Today as Asset Quality Worsens http://t.co/Ii5sLP0sXO
BlockTradeAlert
30 Jan 15 08:22:53
BLOCK TRADE: $IBN 500,000 shares @ $12.00 [11:22:52]
NASDAQ
30 Jan 15 06:16:27
$IBN - Report of Foreign Issuer (6-k) http://t.co/fURVMLYzGn
Market Int Center
30 Jan 15 06:14:36
Icici Bank $IBN Trading Near $12.33 Support Level ( http://t.co/IeIotriO3B )
Breaking News
30 Jan 15 06:13:03
$IBN: New SEC Filing for IBN: Form 6-K, No. 0000950103-15-000732 http://t.co/eo9QodRJ6B http://t.co/mf1MOGgIlw
Tom Wrigley
30 Jan 15 05:21:05
RT @zozotrader: Pre-Market Winners / Losers $ICPT $AMZN $ARNA $SYNA $RMTI / $GENE $HA $IBN $DKS $JDSU more here link http://t.co/j7Xv2TiqIw
ZOZO
30 Jan 15 05:03:27
Pre-Market Winners / Losers $ICPT $AMZN $ARNA $SYNA $RMTI / $GENE $HA $IBN $DKS $JDSU more here link http://t.co/j7Xv2TiqIw
ProVesting
30 Jan 15 03:20:08
$IBN: Goldman Sachs Rating Disclosure on ICICI Bank Ltd (ADR): http://t.co/nyM1dlCuIb
James P Worthy
29 Jan 15 13:00:50
$IBN First Call Rating Update on ICICI Bank Ltd (ADR) http://t.co/rpNelY0eSv
Jeffrey Blake
29 Jan 15 10:33:05
$IBN First Call Rating Update on ICICI Bank Ltd (ADR) http://t.co/daCvPBIDOD
Day Trade Numbers
29 Jan 15 07:32:01
$IBN close to support and resistance zone: 12.85 to 12.89 http://t.co/R3SQ2kbZMm
ProTradersNews
29 Jan 15 02:11:03
$IBN: ICICI Bank Ltd (ADR) Analyst Rating Update: http://t.co/oluBlcVnAO
❌✖Nacionnatz✖❌
28 Jan 15 11:02:51
RT @IKFResearch: Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/ka7dx58yPz #economy #investing $IBN …
I Know First
28 Jan 15 11:02:17
Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/TJVo2BXhMP #economy #investing $IBN $WETF
Apple Stock News
28 Jan 15 11:02:14
Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/eTVhlyIFPz #economy #investing $IBN $WETF
I Know First
28 Jan 15 11:02:07
Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/7f3FcmGKQH #economy #investing $IBN $WETF
IKnowFirst Research
28 Jan 15 11:02:01
Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/ka7dx58yPz #economy #investing $IBN $WETF
Currency-prediction
28 Jan 15 11:01:58
Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/qvouM7ehd8 #economy #investing $IBN $WETF
Gold-prediction.com
28 Jan 15 11:01:58
Stock Forecast Based on Genetic Algorithms: Up To 62.58% Gain in 3 Months http://t.co/s7cHQn3ppt #economy #investing $IBN $WETF
Wyatt Research
28 Jan 15 10:44:46
A Sound Strategy for #Investing #India In 2015 http://t.co/J6X6gZWLhM $EPI $IBN $INFY $JPM $WFC $TTM #stocks
Market Int Center
28 Jan 15 07:51:11
Potential Icici Bank $IBN Trade Has 12.48% Downside Protection ( http://t.co/hQwivrX0oH )
ProTradersNews
28 Jan 15 06:51:11
$GILD $IBN: Market Alert: Frontier Communications Corporation (NASDAQ:FTR ...: http://t.co/zqBJYpC1tG
ProVesting
28 Jan 15 06:51:08
$GILD $IBN: Market Alert: Frontier Communications Corporation (NASDAQ:FTR ...: http://t.co/ew3rIigur6
Penny Stock Secret
28 Jan 15 01:47:06
This Guy Turned $100 into over $10,000 In Just 30 Days! http://t.co/vezCDY95do .. $IBN $IBP $ICA
ProVesting
28 Jan 15 00:56:04
$IBN: Investors Buy ICICI Bank Ltd (ADR) on Weakness: http://t.co/NLI65I6Uef
Lucretia
27 Jan 15 14:32:43
$IBN Brokerage Firm Price Target on ICICI Bank Ltd (ADR) http://t.co/kWcxwJwzK0
Harry Walkman
27 Jan 15 09:31:32
$IBN Analyst Price Target Consensus on ICICI Bank Ltd (ADR) http://t.co/4HpYNFyDt4
Ezra Serrur
27 Jan 15 07:48:34
RT @LSFinancial: Call/Put Highest % volume changes: Calls: $DNR, $IBN, $HOG $MPEL, $MSFT. Puts: $JOY, $DNR, $BCOR, $CMI, $KNDI
Niall Cassidy
27 Jan 15 07:35:16
RT @IBDinvestors: New Highs: Actavis just in buy range as medical & Indian stocks rally http://t.co/TFGzGmjNEm $ACT $ILMN $VRX $IBN http://…
Lightspeed
27 Jan 15 07:28:02
Call/Put Highest % volume changes: Calls: $DNR, $IBN, $HOG $MPEL, $MSFT. Puts: $JOY, $DNR, $BCOR, $CMI, $KNDI
Mark Trader
27 Jan 15 06:34:18
http://t.co/vJ93JPRWBF has the most reliable picks in the market. The move fast and never fail. $IBN $GNW $WPX $CERS $MT $ODP $FCAU
Large Void Bot
27 Jan 15 06:31:13
New 52wk Highs: $IBB $IBN
Media Sentiment
27 Jan 15 06:15:14
$IBN received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 238
Market Int Center
27 Jan 15 06:11:30
Icici Bank $IBN Showing Bullish Technicals With Resistance At $13.05 ( http://t.co/7vizfXPRdV )
Peter Bardens
27 Jan 15 05:32:39
$IBN First Call Rating Update on ICICI Bank Ltd (ADR) http://t.co/CI54pr9z9x
Bat_Trades
27 Jan 15 04:57:18
RT @zozotrader: Pre-market Winners / Losers $SIMG $CANF $IBN $KITE $JUNO $GLW / $SQNM $MSFT $SIMO $CAT $PG $CSIQ link for more http://t.co…
ZOZO
27 Jan 15 04:56:56
Pre-market Winners / Losers $SIMG $CANF $IBN $KITE $JUNO $GLW / $SQNM $MSFT $SIMO $CAT $PG $CSIQ link for more http://t.co/j7Xv2TiqIw
ProTradersNews
27 Jan 15 02:51:04
$IBN: Analyst Price Target Consensus on ICICI Bank Ltd (ADR): http://t.co/2SlchXoFp0
				
				
  +Follow December 6, 2013 1:24PM
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