Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?



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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for IBN
Dakota Financial
26 Nov 15 11:29:23
ICICI Bank Lowered to “Sell” at Zacks Investment Research $IBN https://t.co/pgFde7kBjh
Media Sentiment
26 Nov 15 11:28:04
$IBN received a new alert. Find out why at https://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 208
Consumer News
26 Nov 15 11:26:04
ICICI Bank Lowered to Sell at Zacks Investment Research $IBN https://t.co/3NexlBlaxs #acn
26 Nov 15 11:26:00
ICICI Bank Ltd downgraded by Zacks Investment Research to sell. https://t.co/Ad3RtXVp5F $IBN #IBN
US Consumer News
26 Nov 15 11:13:46
ICICI Bank Ltd downgraded by Zacks Investment Research to sell. https://t.co/VXrVwH8A31 $IBN #IBN
26 Nov 15 08:20:29
Volume Alert - IBN 8.08 Icici Bank Ltd $IBN Hit a high today of 8.19 Closing the day 11/25/15 at 8.08 -0.12 -1 https://t.co/2TEX8dZuuk
26 Nov 15 07:55:38
Monthly report October 2015 $IBN 09 0505 https://t.co/UXEtWWf7Zf
26 Nov 15 07:55:37
Mánaðarskýrsla Íbúðalánasjóðs október 2015 $IBN 09 0505 https://t.co/PAsaYmNNrT
26 Nov 15 07:07:25
Elder Blue https://t.co/nhXAGxlP2n $GDX $MSFT $SDRL $VIPS $XLK $NRG $IBN $RIG $WPX $EZU $FTR $KKR $AXP $FITB $XLB $SLB $HON $VLO
Breaking News
26 Nov 15 05:20:11
$IBN $HBAN: Stocks Revealed Downtrend: ICICI Bank Ltd (ADR) (NYSE:IBN …: https://t.co/ScDMjBLqro
25 Nov 15 22:57:29
Black Friday $SALE on #stockmarket. Cash-rich, 5.7 EV/EBITDA, $60M stock buyback plan in Q4. Read: https://t.co/qM8kTQH7RQ $IBN $IDTI $DNKN
Ticker Report
25 Nov 15 20:17:35
ICICI Bank Stock Price Down 1.7% $IBN https://t.co/nTBqzhL7IK
US Banking News
25 Nov 15 20:15:48
ICICI Bank Stock Price Down 1.7% $IBN https://t.co/XAzamHpgLk
The Legacy News
25 Nov 15 20:07:22
ICICI Bank Stock Price Down 1.7% $IBN https://t.co/hJ56SWVR3Q
25 Nov 15 18:40:08
Payment Banks Will Drive Distribution Reach and Prove Complementary to Indian Banks $IBN https://t.co/TNXV0mv7kj
25 Nov 15 11:02:45
$IBN: Hot Moves to Watch – ICICI Bank Ltd (ADR) (NYSE:IBN), Vale SA …: https://t.co/DykQoXYrpq
25 Nov 15 08:02:51
Volume Alert - IBN 8.10 Icici Bank Ltd $IBN Hit a high today of 8.19 Closing the day 10:30 at 8.10 -0.10 -1.22 https://t.co/ZAAtrklwn4
SFTW Trader App
25 Nov 15 07:53:24
SFTW Trader short-term Recommendation: $IBN ICICI Bank Ltd. https://t.co/rNfVyCfhYS
Stephen s
25 Nov 15 07:02:24
RT @OTCtraderDave: https://t.co/APzP66vnr4 IN PLAY: $HJOE $AUY $BABL $HASC $JCP $PTN $AMD $CHK $IBN $HCTI $SFUN $KGC $AURI $NBG
Stephen s
25 Nov 15 07:02:22
The Legacy News
25 Nov 15 06:18:54
ICICI Bank Sees Unusually-High Trading Volume $IBN https://t.co/JbPvpPmPRS
Ticker Report
25 Nov 15 05:58:33
ICICI Bank Sees Unusually-High Trading Volume $IBN https://t.co/hqWhmKzaE2
US Banking News
25 Nov 15 05:56:19
ICICI Bank Sees Unusually-High Trading Volume $IBN https://t.co/slE1qUswyl
25 Nov 15 05:18:01
$IBN ICICI Bank: Several Upside Triggers Coming by Economics Fanatic https://t.co/WLatnuiX9D https://t.co/4nY7hZEiET
25 Nov 15 04:31:10
$IBN: Yesterday Moving Stock’s Update: ICICI Bank Ltd (ADR) (NYSE:IBN …: https://t.co/nkAkdmuQiy
24 Nov 15 20:31:30
TradeIdeas1: #TradeIdeas for tomorrow on first data pass. $IBN, $OMCL, $ASNA, $PIR, $FNSR, $TNGO, $PBMD, $SIEN, $… https://t.co/KjArsJDKRa
Dan Mirkin
24 Nov 15 20:24:50
#TradeIdeas for tomorrow on first data pass. $IBN, $OMCL, $ASNA, $PIR, $FNSR, $TNGO, $PBMD, $SIEN, $ROVI #BigData https://t.co/r440A7fN0M
24 Nov 15 17:18:05
Greg David
24 Nov 15 17:18:01
24 Nov 15 15:30:32
Elder Green https://t.co/T1bAtbgJXL $GDX $RAD $XLE $EWJ $IBN $XOM $EWZ $EMC $JCP $AGN $CVX $WLL $COP $EBAY $WFT $GRPN $NXPI $OIH
24 Nov 15 07:28:00
BLOCK TRADE: $IBN 321,379 shares @ $7.97 [10:27:58]
investor wired
24 Nov 15 05:38:49
Asian Stock Markets Uneven: $QIHU $JD $BABA $IBN $TSL https://t.co/oQlNT1RyyT
23 Nov 15 16:44:03
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here https://t.co/n4FmW1UTLN .. $IBN $IBP $ICA
Greg David
23 Nov 15 05:36:35
23 Nov 15 05:32:17
Breaking News Now
22 Nov 15 22:50:03
$IBN: Company Shares of ICICI Bank Limited (NYSE:IBN) Rally 3.46%: https://t.co/FA2J1HJO1j
Greg David
22 Nov 15 12:34:15
21 Nov 15 11:42:08
$IBN is rated BUY, 37.3% upside by Wall Street analysts based on average ratings/targets https://t.co/AmAbzXew4N https://t.co/N26qKY6qge
21 Nov 15 08:51:23
RT @muathe: [VIDEO] Weekend WORLD Market Analysis 11/21/15 $RIO $IBN $VALE $TSM $ALU $ASML $NOK $ITUB $MTL $ERIC $MPEL $BBD $VIV https://t.…
21 Nov 15 08:49:43
[VIDEO] Weekend WORLD Market Analysis 11/21/15 $RIO $IBN $VALE $TSM $ALU $ASML $NOK $ITUB $MTL $ERIC $MPEL $BBD $VIV https://t.co/DoVY7swxXB
21 Nov 15 07:27:16
Lizard Bearish https://t.co/Sj2DvI1Z9n $JCI $EWZ $AER $PEG $HEDJ $LNG $BRFS $LVLT $BSMX $EIX $HFC $IBN $VCIT $OME $UBNK $RFP $ARII $BJRI
20 Nov 15 16:45:29
Swing Sell Picks: $AGEN, $BBL, $BHP, $CAR, $DE, $DSW, $DUK, $FM.CA, $HBM.CA, $IBN, $IP, $KND, $LUN.CA, $MNK, $MRVL https://t.co/eLFWmcaM7p
20 Nov 15 12:02:13
BLOCK TRADE: $IBN 463,729 shares @ $8.10 [15:02:11]
20 Nov 15 08:45:48
Volume Alert - IBN 8.10 Icici Bank Ltd $IBN Hit a high today of 8.20 Closing the day 10:30 at 8.10 +0.03 +0.37 https://t.co/dQVDUEIV2A
20 Nov 15 05:08:10
$IBN $BIDU: Asian Stocks one Must See: ICICI Bank Ltd (NYSE:IBN), SouFun …: https://t.co/zZrWSKCpdp
20 Nov 15 04:54:11
$LULU $IBN: Investors Attention Alert: Lululemon Athletica inc. (NASDAQ:LULU …: https://t.co/2anBa2c1zm
The Legacy News
19 Nov 15 20:23:20
ICICI Bank Trading Down 2.2% $IBN https://t.co/VljfCcxNOb
Emerging Markets
19 Nov 15 12:30:40
RT @DeFotis: India: #Modi Party Defeat Is Buying Opportunity https://t.co/TWjIpYGSKE $INDA $IBN $RDY $WIT @barronsonline @ThornburgFunds #E…
Dimitra DeFotis
19 Nov 15 12:26:25
India: #Modi Party Defeat Is Buying Opportunity https://t.co/TWjIpYGSKE $INDA $IBN $RDY $WIT @barronsonline @ThornburgFunds #EmergingMarket
19 Nov 15 08:21:36
Volume Alert - IBN 8.07 Icici Bank Ltd $IBN Hit a high today of 8.10 Closing the day 10:30 at 8.07 +0.07 +0.88 https://t.co/fFZH0T1qEa
  +Follow December 6, 2013 1:24PM



blog comments powered by Disqus

 Today's Must Reads

What Crowdfunding Leaders Are Saying About the SEC’s Approval of Title III

How the Drug Price Scrutiny is Affecting Pharma Stocks

8 More Tips for Choosing the Right Crowdfunding Platform

Will the Post-Smartphone Era Bring Wearable Drones?

3 Cloud Stocks That Pay Dividends


Small-cap stocks offer investors many benefits, ranging from higher growth potential to overlooked value opportuni... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register