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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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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
iHangout
5 Mar 15 12:21:21
clayton: The Launch Pad: IBN 11.59 Icici Bank Limited $IBN added to my http://t.co/c1oPhJxEDe
clayton
5 Mar 15 12:19:03
IBN 11.59 Icici Bank Limited $IBN added to my watch list. Right now with IBN I am watching the last price 11.5 http://t.co/bEoY2LeBiT
clayton
5 Mar 15 12:18:41
$IBN IBN 11.59 Icici Bank Limited $IBN stock added to my watch list. Right now with IBN I am watching the last pric http://t.co/BHTindgYDp
danrocks
5 Mar 15 09:57:12
Right now IBN is number 132 for the largest percentage gain out of 241 stocks. $IBN IBN is up +4.32% in the la http://t.co/L9qRfQ1kWH
danrocks
5 Mar 15 09:56:50
$IBN IBN Stock is number 132 for the largest percentage gain out of 241 stocks. $IBN IBN is up +4.32% in the last 5 http://t.co/kAni9O8DEh
DailyStockPicks
5 Mar 15 08:29:12
Spectra7 news: incredible new chip out, up over 20% so far $SEV.V $SPVNF tgt $2+ $IBN $IDTI $DNKN investors read http://t.co/gvpSLFasr3
Mark Trader
5 Mar 15 06:50:59
http://t.co/U0VrKn1h21 has the most reliable picks in the market. The move fast and never fail. $IBN $GNW $WPX $CERS $MT $ODP $FCAU
Media Sentiment
5 Mar 15 06:33:02
$IBN received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 175
Market Int Center
5 Mar 15 06:30:41
Icici Bank $IBN Showing Bullish Technicals With Resistance At $11.72 ( http://t.co/2A19XsLN3t )
Eli Hoffmann
5 Mar 15 04:53:14
Commented on: "Good News Continues For Indian Markets" http://t.co/Ige0LyGdbF $IBN $INXX $SCIF
Breaking News Now
5 Mar 15 04:11:03
$IBN: Analyst Rating Update on ICICI Bank Limited: http://t.co/V2SAGL8DHl
Mohammed M. Ajmeri
4 Mar 15 23:50:03
$IBN it is. research & buy sometime this month.
NASDAQ
4 Mar 15 23:00:07
$IBN - Good News Continues For Indian Markets http://t.co/WpUf82wicd
Jason Olive
4 Mar 15 22:51:46
RT @SeekingAlpha: Good News Continues For Indian Markets http://t.co/NhUHktfXb8 $IBN $INXX $SCIF
Alysia Sarkisian
4 Mar 15 22:50:52
RT @SeekingAlpha: Good News Continues For Indian Markets http://t.co/NhUHktfXb8 $IBN $INXX $SCIF
Media Sentiment
4 Mar 15 22:50:00
$IBN received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 502
Quantpost Financial
4 Mar 15 22:48:40
$IBN News: "Good News Continues For Indian Markets $IBN $INXX $SCIF …" http://t.co/YBzTAvFikq Board view: https://t.co/RArxMonbrU
Seeking Alpha
4 Mar 15 22:48:40
Good News Continues For Indian Markets http://t.co/NhUHktfXb8 $IBN $INXX $SCIF
leahanne
4 Mar 15 10:31:13
Volume Alert - IBN 11.51 Icici Bank Limited $IBN Hit a high today of 11.54 Closing the day 10:30 at 11.51 -0.1 http://t.co/5AMU6tG7Ad
leahanne
4 Mar 15 10:30:51
$IBN Volume Alert - IBN Stock 11.51 Icici Bank Limited $IBN Hit a high today of 11.54 Closing the day 10:30 at 11.5 http://t.co/7312mt1BfB
Akhilesh
3 Mar 15 22:01:15
RT @DeidreZune: RBI cuts interest rates after #Modi budget IGNITING #Indian stocks into record territory $epi $ibn $indy
Mark Yusko
3 Mar 15 21:24:20
RT @DeidreZune: They r having a wild party in Mumbai INDIA'S SENSEX SURPASSES 30,000 FOR FIRST TIME AFTER RATE CUT $epi $ibn $indy $spx
DEBRA LEE
3 Mar 15 20:41:53
@DeidreZune Cool! I just bought $IBN yesterday to open starter position. Wish I had more! =^.^=
DeidreZune
3 Mar 15 20:34:28
They r having a wild party in Mumbai INDIA'S SENSEX SURPASSES 30,000 FOR FIRST TIME AFTER RATE CUT $epi $ibn $indy $spx
DeidreZune
3 Mar 15 19:57:30
RBI cuts interest rates after #Modi budget IGNITING #Indian stocks into record territory $epi $ibn $indy
James P Worthy
3 Mar 15 14:03:38
$IBN Analyst Rating Update on ICICI Bank Ltd (ADR) http://t.co/4czNn33II8
American Securities
3 Mar 15 13:51:08
RT @SeekingAlpha: HDFC Bank - A High Quality Blue Chip To Be Bought On Dips http://t.co/alfkJKJ1Zh $IBN $HDB
Quantpost Financial
3 Mar 15 13:42:56
$IBN News: "HDFC Bank - A High Quality Blue Chip To Be Bought On Dips $IBN …" http://t.co/zEUBRV9BFu Board view: https://t.co/RArxMonbrU
Financial Stocks
3 Mar 15 13:42:54
HDFC Bank - A High Quality Blue Chip To Be Bought On Dips http://t.co/zq1JjvCjAo $IBN $HDB
Quick Stock Ideas
3 Mar 15 13:42:54
HDFC Bank - A High Quality Blue Chip To Be Bought On Dips http://t.co/nYBQRMTOzh $IBN $HDB
Seeking Alpha
3 Mar 15 13:42:53
HDFC Bank - A High Quality Blue Chip To Be Bought On Dips http://t.co/alfkJKJ1Zh $IBN $HDB
clayton
3 Mar 15 12:46:35
IBN 11.74 Icici Bank Limited $IBN added to my watch list. Right now with IBN I am watching the last price 11.7 http://t.co/S3rWAeHncu
clayton
3 Mar 15 12:46:13
$IBN IBN 11.74 Icici Bank Limited $IBN stock added to my watch list. Right now with IBN I am watching the last pric http://t.co/FSGZndwuDp
ProTradersNews
3 Mar 15 11:11:03
$IBN: News Buzz-ICICI (IBN), Unilife (UNIS), NutriSyste (NTRI), SunOpta ...: http://t.co/43KkyA0fYn
leahanne
3 Mar 15 09:34:15
Volume Alert - IBN 11.83 Icici Bank Limited $IBN Hit a high today of 11.89 Closing the day 10:30 at 11.83 +0.0 http://t.co/kbx9367kwm
leahanne
3 Mar 15 09:33:53
$IBN Volume Alert - IBN Stock 11.83 Icici Bank Limited $IBN Hit a high today of 11.89 Closing the day 10:30 at 11.8 http://t.co/PwbbFfx87K
danrocks
3 Mar 15 08:36:51
Right now IBN is number 64 for the largest percentage gain out of 241 stocks. $IBN IBN is up +7.56% in the las http://t.co/6eaFos9svV
danrocks
3 Mar 15 08:36:30
$IBN IBN Stock is number 64 for the largest percentage gain out of 241 stocks. $IBN IBN is up +7.56% in the last 5 http://t.co/eKWSTHsVCG
Market Int Center
3 Mar 15 08:22:06
Icici Bank $IBN Showing Support Near $11.50 ( http://t.co/goMpr4HZ9F )
DailyStockPicks
2 Mar 15 22:44:13
This $100M market cap #biotech stock has gotten 3 orphan drug designations in 3 weeks $IBN $IDTI $DNKN investors read http://t.co/r6XCUvJp21
PolgarStocks
2 Mar 15 14:19:52
$HERO Short Sales Updated Monday, March 2, 2015 5:07:09 PM $IBN $ENIP $XLK $XLY http://t.co/AEMH15SOVg
IH News Desk
2 Mar 15 14:19:35
$INTC Filings Updated Monday, March 2, 2015 5:11:02 PM $ECIG $IBN $IBM $CYCC http://t.co/5BmvT75XoW
PolgarStocks
2 Mar 15 13:19:11
$BIB Recent News Updated Monday, March 2, 2015 4:07:10 PM $IYT $UNG $IJJP $IBN http://t.co/j8f9GmaFKk
Rosner Stocks
2 Mar 15 12:18:13
$QCOM Last Price Updated Monday, March 2, 2015 2:59:25 PM $VOIS $IBN $BAA $FXA http://t.co/1U2uw90kS9
Mark Trader
2 Mar 15 11:36:05
http://t.co/U0VrKn1h21 has the most reliable picks in the market. The move fast and never fail. $IBN $GNW $WPX $CERS $MT $ODP $FCAU
IH News Desk
2 Mar 15 11:16:32
$DBA Last Price Updated Monday, March 2, 2015 2:11:02 PM $ECIG $AKRX $SQQQ $IBN http://t.co/7PdZVxWvY2
PolgarStocks
2 Mar 15 11:16:24
$NBG Stock Price Updated Monday, March 2, 2015 2:07:09 PM $IBN $GGAL $ECL $QCOM http://t.co/j7vbNAZnxP
Lucretia
2 Mar 15 11:02:58
$IBN Analyst Rating Update on ICICI Bank Ltd (ADR) http://t.co/5TUPlVx1WH
IH News Desk
2 Mar 15 10:15:11
$CELG Reviews Updated Monday, March 2, 2015 1:11:02 PM $FNMA $DAL $IBB $IBN http://t.co/r5tGOAEWVW
Kenneth Rapoza
2 Mar 15 10:10:59
#India banks get budget boost: http://t.co/oMk6a18X7H $IBN $HDB beating market. This might continue actually, if these guys are right...$EPI
				
				
  +Follow December 6, 2013 1:24PM
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