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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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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
Irma Doucet
31 Oct 14 07:01:56
$IBN Traders Alert - McGraw Hill Financial Inc (NYSE:MHFI), ICICI Bank Ltd (ADR ... http://t.co/jZQeuqIGgp
Large Void Bot
31 Oct 14 06:34:12
New 52wk Highs: $CAH $CHKP $CI $DLR $DPS $DRH $GD $HUM $IBN
DailyStockPicks
30 Oct 14 23:52:13
Partner Jet $PJT.V is up 183% this week after Q3 release with more gains coming. Find out why: http://t.co/MEpEjkCm4H $UGAZ $SONS $IBN
Sentifi CH Market
30 Oct 14 22:13:06
TOP 10 Most Discussed #Banks Within 24h at http://t.co/9WgC55dtQ4 $IBN #ICICIBC #ICICI $BARC $STAN $CBK #BoCom http://t.co/MW40gnjakF
Media Sentiment
30 Oct 14 09:56:56
$IBN received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 498
Market Int Center
30 Oct 14 09:54:50
Icici Bank $IBN Showing Bullish Technicals ( http://t.co/Mrzwanflgr )
NASDAQ
30 Oct 14 07:37:12
$IBN - Report of Foreign Issuer (6-k) http://t.co/LEiViJGgvC
Penny Stocks Blog
30 Oct 14 02:08:59
RT @mediasentiment: $IBN received a new alert. See why at http://t.co/5udYd0Ofs6 #stocks #markets #daytrading 2
Media Sentiment
30 Oct 14 02:04:52
$IBN received a new alert. See why at http://t.co/5udYd0Ofs6 #stocks #markets #daytrading 2
Penny Stocks Blog
30 Oct 14 01:15:59
RT @mediasentiment: $IBN received a new alert. See why at http://t.co/5udYd0Ofs6 #stocks #markets #daytrading 1
Media Sentiment
30 Oct 14 00:55:01
$IBN received a new alert. See why at http://t.co/5udYd0Ofs6 #stocks #markets #daytrading 1
wininstocks2014
29 Oct 14 22:19:39
IBN 55.00 Stock Charts $IBN ICICI Bank Ltd. ADS (NYSE) Last Updated: 10/30/2014 00:19:46 IBN Stock Chart - 1 M http://t.co/V0xJtpV7y8
Kevin
29 Oct 14 16:56:02
RT @_JohnWalsh_: 29/10/14 Long Watch List Part 2 $CVS $CXW $DFT $EIX $EXR $FAF $FB $FISV $GEO $GPN $HCN $HD $HR $IBN $IRM $ITC $ITW $JAH $K…
LVK
29 Oct 14 12:54:10
RT @_JohnWalsh_: 29/10/14 Long Watch List Part 2 $CVS $CXW $DFT $EIX $EXR $FAF $FB $FISV $GEO $GPN $HCN $HD $HR $IBN $IRM $ITC $ITW $JAH $K…
Cristobal Barberis
29 Oct 14 08:04:57
Great Stocks to Go Short #StockPicks #SwingTrade $IBN, $ABC, $CVA, $BRCM, $HTA #brberisReport
Vizimi Stocks
28 Oct 14 21:35:32
Tuesday 10/28 #NYSE News: $IBN closed up for the 8th consecutive day for the first time since January 2012 #stocks
Afflicted
28 Oct 14 14:19:24
RT @_JohnWalsh_: 29/10/14 Long Watch List Part 2 $CVS $CXW $DFT $EIX $EXR $FAF $FB $FISV $GEO $GPN $HCN $HD $HR $IBN $IRM $ITC $ITW $JAH $K…
Sleek Money
28 Oct 14 13:52:35
ICICI Bank Ltd Sets New 1-Year High at $56.16 $IBN http://t.co/gA7i14p9d9
BlackCabbieTrader
28 Oct 14 13:29:03
29/10/14 Long Watch List Part 2 $CVS $CXW $DFT $EIX $EXR $FAF $FB $FISV $GEO $GPN $HCN $HD $HR $IBN $IRM $ITC $ITW $JAH $KMX $LCI $LHO $LOW
Dimitra DeFotis
28 Oct 14 12:19:10
Why Indonesia Isn’t India, Pakistan Isn’t Emerging http://t.co/nRMEmtCXMR via @barronsonline $IBN $RDY $INP $INXX
Harry Walkman
28 Oct 14 09:02:16
$IBN Trader's Buzzers - Mosaic Co (NYSE:MOS), ICICI Bank Ltd (ADR) (NYSE:IBN ... http://t.co/yqN6tMWLEe
Cristobal Barberis
28 Oct 14 08:05:59
Great Stocks to Go Short #StockPicks #SwingTrade $IBN, $BRCM, $MAC, $DDR, $HCN #brberisReport
Clair Voight
28 Oct 14 07:02:13
$IBN Top Earnings Per Share Stocks: ICICI Bank Ltd (ADR) (NYSE:IBN), General ... http://t.co/Z4EaEgjIAU
Large Void Bot
28 Oct 14 06:32:12
New 52wk Highs: $ALL $HIG $IBN $RGC
Clair Voight
28 Oct 14 06:00:47
$IBN Trader's Buzzers - Mosaic Co (NYSE:MOS), ICICI Bank Ltd (ADR) (NYSE:IBN ... http://t.co/8SgcOgyPlx
Vizimi Stocks
27 Oct 14 19:41:52
Monday 10/27 #NYSE News: $IBN closed up for the 7th consecutive day for the first time since January 2012 #stocks
Media Sentiment
27 Oct 14 09:44:58
$IBN received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 302
Market Int Center
27 Oct 14 09:41:01
Icici Bank $IBN Showing Bullish Technicals With Resistance At $55.43 ( http://t.co/xqcIBpPMYA )
Cristobal Barberis
27 Oct 14 08:04:44
Five bearish swing trade ideas for Monday #MeanReversion $IBN, $AKRX, $MDVN, $SYK, $BRCM #brberisReport
Penny Stock Secret
27 Oct 14 07:58:33
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $IBN $IBP $ICA
Jack Trader
27 Oct 14 07:31:31
$IBN Top Earnings Per Share Stocks: ICICI Bank Ltd (ADR) (NYSE:IBN), General ... http://t.co/KmZf0xGMSy
Vizimi Stocks
24 Oct 14 22:36:29
Friday 10/24 #NYSE News: $IBN closed up for the 6th consecutive day for the first time since December 2012 #stocks
Stock Relay
24 Oct 14 15:32:06
wininstocks2014: Stock Charts: IBN 54.51 Stock Charts $IBN ICICI Bank Ltd. ADS http://t.co/o7vU0XnFVM
wininstocks2014
24 Oct 14 15:28:33
IBN 54.51 Stock Charts $IBN ICICI Bank Ltd. ADS (NYSE) Last Updated: 10/24/2014 17:28:35 IBN Stock Chart - 1 M http://t.co/q8zYr7hdRt
Cristobal Barberis
24 Oct 14 08:05:00
Great Stocks to Go Short #StockPicks #SwingTrade $IBN, $AKRX, $MDVN, $COST, $BMR #brberisReport
Stock Relay
24 Oct 14 03:01:38
$UPIP Day Low Click Here: http://t.co/slFmP4yHn4 Also See: $IBN $GHI $PSEM $RALY ~
				
				
  +Follow December 6, 2013 1:24PM
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