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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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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
J.
24 Nov 14 03:48:20
RT @_JohnWalsh_: 24/11/14 Long Watch List Part 2 $DLTR $DPLO $EA $EEP $ESRX $EWBC $FAF $FISV $FL $GNTX $GPN $HDB $HIG $HON $HPT $IBN $INCY …
iHangout
23 Nov 14 20:42:17
chartguy89: Most Active Stocks: IBN 59.99 Icici Bank Limited Stock Charts $IBN http://t.co/fD46GyrnjN
chartguy89
23 Nov 14 20:38:32
IBN 59.99 Icici Bank Limited Stock Charts $IBN Last Updated: 11/21/14 Last price: 59.99 Total volume: 1,265,70 http://t.co/i4102ro30t
Aryan Oberoi
23 Nov 14 19:43:40
HolyShit Investments of the year: $GPRO $VA $ICPT $NFLX $CMG $IBN
Jake13
23 Nov 14 19:42:47
IBN Year to date has changed +61.39% percent. +11.09% in the last 30 days. $IBN Icici Bank Limited Full breakd http://t.co/5ZXIVEYFK0
Extreme Stocks
23 Nov 14 18:27:13
clayton: IBN 59.99 Icici Bank Limited $IBN added to my http://t.co/sPJW459SQ9
clayton
23 Nov 14 18:26:06
IBN 59.99 Icici Bank Limited $IBN added to my watch list. Right now with IBN I am watching the last price 59.9 http://t.co/pFCpzrr5Ys
Christian
23 Nov 14 18:20:31
RT @_JohnWalsh_: 24/11/14 Long Watch List Part 2 $DLTR $DPLO $EA $EEP $ESRX $EWBC $FAF $FISV $FL $GNTX $GPN $HDB $HIG $HON $HPT $IBN $INCY …
Lucky Jimmy
23 Nov 14 17:07:38
IBN Stock up +2.25% percent Today $IBN High is at 60.24 and the Low 59.78 with current volume of 1,265,700. http://t.co/kXIVED1Hgc
Investors Hangout
23 Nov 14 15:57:40
DennyT: IBN Stock 59.99 Icici Bank Limited $IBN Hit a 52 http://t.co/t1bUioSfEy
Investors Hangout
23 Nov 14 15:57:39
DennyT: IBN Stock 59.99 Icici Bank Limited $IBN Hit a 52 http://t.co/S6AKckxxr0
DennyT
23 Nov 14 15:55:28
IBN Stock 59.99 Icici Bank Limited $IBN Hit a 52 week high of 60.24 Closing the day 11/21/14 at 59.99 +1.32 +2 http://t.co/PdIcOUSofx
jim50
23 Nov 14 15:53:55
IBN Gapped up +1.03 $IBN Last Price 59.99 Day High 60.24 Day Low 59.78 Change +1.32 Volume 1,265,700 Today 592 http://t.co/9b6qtgxLd1
BlackCabbieTrader
23 Nov 14 14:49:54
24/11/14 Long Watch List Part 2 $DLTR $DPLO $EA $EEP $ESRX $EWBC $FAF $FISV $FL $GNTX $GPN $HDB $HIG $HON $HPT $IBN $INCY $INGR $INTC $INTU
Thomas Streater
22 Nov 14 01:35:38
One of the best Asia Equity Strategists likes $HDB $IBN among others http://t.co/SmXPHe9a6L via @barronsonline @barronsasia
Investors Hangout
21 Nov 14 20:09:08
DennyT: IBN Stock 59.99 Icici Bank Limited $IBN Hit a 52 http://t.co/2qTgJ4yTr3
Investors Hangout
21 Nov 14 20:09:08
DennyT: IBN Stock 59.99 Icici Bank Limited $IBN Hit a 52 http://t.co/AqLc7clu3Z
iHangout
21 Nov 14 19:39:10
http://t.co/jYcEVuQLYt DennyT: $IBN Icici Bank Limited: IBN 59.99 Icici Bank Limited $IBN Hit a 52 week http://t.co/J5gteetGiT
Investors Hangout
21 Nov 14 19:38:43
DennyT: IBN 59.99 Icici Bank Limited $IBN Hit a 52 week http://t.co/MSoPxXFRIv
Investors Hangout
21 Nov 14 19:38:43
DennyT: IBN 59.99 Icici Bank Limited $IBN Hit a 52 week http://t.co/6PpwjUaypP
DennyT
21 Nov 14 19:38:27
IBN Stock 59.99 Icici Bank Limited $IBN Hit a 52 week high of 60.24 Closing the day 11/21/14 at 59.99 +1.32 +2 http://t.co/ZK29Flmy2j
DennyT
21 Nov 14 19:38:05
$IBN IBN 59.99 Icici Bank Limited $IBN Hit a 52 week high of 60.24 Closing the day 11/21/14 at 59.99 +1.32 +2.25% W http://t.co/KdgUMT4QzK
jim50
21 Nov 14 18:53:40
IBN Gapped up +1.03 $IBN Last Price 59.99 Day High 60.24 Day Low 59.78 Change +1.32 Volume 1,265,769 Today 593 http://t.co/cieppQ2DxE
jim50
21 Nov 14 18:53:18
$IBN IBN Stock Gapped up +1.03 $IBN Last Price 59.99 Day High 60.24 Day Low 59.78 Change +1.32 Volume 1,265,769 Tod http://t.co/4GGt51qyay
The Legacy News
21 Nov 14 11:14:42
ICICI Bank Ltd Reaches New 52-Week High at $60.24 $IBN http://t.co/ezqUycAvQd
US Banking News
21 Nov 14 11:06:13
ICICI Bank Ltd Reaches New 52-Week High at $60.24 $IBN http://t.co/vtT5MnATB5
Eternity101
21 Nov 14 10:49:05
RT @muathe: [ VIDEO ] Weekend $STUDY Short-Term / Swing Trading Strategies Part 3 $IFN $INDL $INP $RDY #BHARTI $IBN $SSLT https://t.co/EOs…
Muathe
21 Nov 14 10:44:49
[ VIDEO ] Weekend $STUDY Short-Term / Swing Trading Strategies Part 3 $IFN $INDL $INP $RDY #BHARTI $IBN $SSLT https://t.co/EOssCZSCA9
John Turner
21 Nov 14 09:31:45
$IBN ICICI Bank Limited (IBN): New Analyst Report from Zacks Equity Research ... http://t.co/cOWJ8IVRQV
OneChicago
21 Nov 14 07:24:02
$IBN 20141219 Block Trade: 309 trade. ~$1.9 MM notional value.
Market Int Center
21 Nov 14 07:10:59
Potential Icici Bank $IBN Trade Targets 3.21% Return ( http://t.co/WAAPJ5ypqL )
Large Void Bot
21 Nov 14 06:34:13
New 52wk Highs: $BERY $DDC $IBN $JACK $XNPT
NASDAQ
21 Nov 14 03:13:11
$IBN - Report of Foreign Issuer (6-k) http://t.co/TRWVui9d9r
Len R. Holliday
20 Nov 14 19:48:34
RT @SeekingAlpha: #NYU Stern Investment Management with PRO coverage of $IBN: http://t.co/rgZmrN9udM http://t.co/69qgr4oUAr
Irma Doucet
20 Nov 14 15:00:35
$IBN 4 High-Profit Margin Stocks: Gulfport Energy Corporation (NASDAQ:GPOR ... http://t.co/Z86JiRlk7e
Seeking Alpha
20 Nov 14 14:35:39
#NYU Stern Investment Management with PRO coverage of $IBN: http://t.co/rgZmrN9udM http://t.co/69qgr4oUAr
Media Sentiment
20 Nov 14 09:44:53
$IBN received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 297
NASDAQ
20 Nov 14 09:42:13
$IBN - India's Kotak Mahindra to Acquire ING Vysya Bank in $2.4 Billion Stock Deal -- Update http://t.co/MQm3Z2oa7w
Market Int Center
20 Nov 14 09:40:31
Icici Bank $IBN Showing Bullish Technicals ( http://t.co/tD93hb9Q7G )
NASDAQ
20 Nov 14 03:19:06
$IBN - Report of Foreign Issuer (6-k) http://t.co/G3zkpw3iyg
TS Binary Options
19 Nov 14 20:29:42
ALERT: New Social signal created on $IBN - Low at 1681.675 - Time: 04:29 - Strength: 5. Powered by http://t.co/dJICEo9P6s
Jeffrey Blake
19 Nov 14 11:30:57
$IBN Trader's Buzzers - Mosaic Co (NYSE:MOS), ICICI Bank Ltd (ADR) (NYSE:IBN ... http://t.co/hkdPmJ5Wpg
Market Int Center
19 Nov 14 11:11:13
Icici Bank $IBN Trading Near $57.85 Support Level ( http://t.co/QfhOnPIOfC )
Seeking Alpha - All
19 Nov 14 05:09:40
The Long Case For ICICI Bank - 25% Possible Upside http://t.co/nDayHm9Fi1 $IBN
Penny Stock Secret
19 Nov 14 02:14:26
Yesterday We Made $89,000 In Just One Trade More Info Here http://t.co/SVqoMlijqL .. $IBN $IBP $ICA
Seeking Alpha - All
19 Nov 14 00:01:42
Why India Has Embarked On A Long-Term Bull Market - Part 2 http://t.co/G83cpxNqH2 $CTSH $HDB $IBN $INFY $WIT
Clair Voight
18 Nov 14 15:00:59
$IBN Trader's Buzzers - Mosaic Co (NYSE:MOS), ICICI Bank Ltd (ADR) (NYSE:IBN ... http://t.co/sx7yQAfysJ
Lucretia
18 Nov 14 07:01:03
$IBN Stocks Buzz – Liberty Global plc (NASDAQ:LBTYA), ICICI Bank Ltd (ADR ... http://t.co/OFxAFkLjLT
Media Sentiment
18 Nov 14 05:15:16
$IBN received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 97
Market Int Center
18 Nov 14 05:13:41
Icici Bank $IBN Showing Bullish Technicals With Resistance At $58.67 ( http://t.co/frAU6OLytP )
				
				
  +Follow December 6, 2013 1:24PM
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