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Though the country of India has had a particularly rough economic 2013, with a devaluing rupee and outdated corporate laws slowing growth and overseas investment, a handful of Indian financial institutions have begun showing signs of life in late 2013, with ICICI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


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Results for IBN
leahanne
31 Aug 15 08:42:49
Volume Alert - IBN 8.62 Icici Bank Ltd $IBN Hit a high today of 8.76 Closing the day 10:30 at 8.62 -0.25 -2.82 http://t.co/uvU58EFi5Q
stockschamp
31 Aug 15 03:35:20
Gains Over 2500% In one Trade.. Subscribe Here! http://t.co/8WvnrVmkBS .. $IBN $IBP $ICA
ProTradersNews
30 Aug 15 20:58:02
$IBN: Company Shares of ICICI Bank Limited (NYSE:IBN) Drops by -2.42%: http://t.co/xHdHPdpsKc
Analyst Actions
30 Aug 15 14:39:02
$IBN: Bullish analyst action by Standpoint Research on ICICI Bank: http://t.co/0rMsqfVHwv http://t.co/5WXUIahEsz
The Legacy News
30 Aug 15 03:04:39
ICICI Bank Upgraded by Standpoint Research to Buy $IBN http://t.co/XpeO6HBBgx
StockNewsWires
30 Aug 15 03:04:02
$IBN: ICICI Bank Upgraded by Standpoint Research to Buy (IBN): http://t.co/E7yb31cuQ4
iHangout
29 Aug 15 19:47:07
chartguy89: 2015 Trending Stocks: IBN +0.23% Stock Charts $IBN ICICI Bank Ltd. ADR http://t.co/xAGuWbdzzt
chartguy89
29 Aug 15 19:43:26
IBN +0.23% Stock Charts $IBN ICICI Bank Ltd. ADR (NYSE) Last Updated: 08/29/2015 21:43:31 IBN Stock Chart - 1 http://t.co/tvpKd9SzHf
Edward Gofsky
29 Aug 15 09:19:12
RT @muathe: [VIDEO] Weekend WORLD Market Analysis 08/29/2015 $RIO $IBN $VALE $TSM $ALU $ASML $BP $ITUB $GFI $RSX $ABEV $SAN $PBR https://t.…
Muathe
29 Aug 15 07:07:49
[VIDEO] Weekend WORLD Market Analysis 08/29/2015 $RIO $IBN $VALE $TSM $ALU $ASML $BP $ITUB $GFI $RSX $ABEV $SAN $PBR https://t.co/y7Tp2FODmO
Consumer News
29 Aug 15 03:17:35
ICICI Bank Lifted to “Buy” at Standpoint Research $IBN http://t.co/lWbMNYB5NF #acn
Sleek Money
28 Aug 15 14:49:17
ICICI Bank Stock Rating Upgraded by Standpoint Research $IBN http://t.co/xtr7rFp1Gk
WKRB News
28 Aug 15 14:06:21
ICICI Bank Upgraded at Zacks $IBN http://t.co/Q0CQkmBa5d
Lucretia
28 Aug 15 10:40:54
$IBN ICICI Bank Ltd (ADR) 35.6% Potential Upside indicated by Standpoint Research http://t.co/GBtdmxc4NL
GNWLive
28 Aug 15 10:14:28
Samandreginn árshlutareikningur samstæðu Íbúðalánasjóðs janúar - júní 2015 $IBN 09 0505 http://t.co/5gQm09aOCv
GNWLive
28 Aug 15 10:14:28
Condensed Consolidated interim Financial Statements of the Housing Financing Fund for the first half $IBN 09 0505 http://t.co/HOCy8w4TYk
Peter Bardens
28 Aug 15 08:37:06
$IBN ICICI Bank Ltd (ADR) (NYSE:IBN) Needs Investors Attention http://t.co/qXyOdxSiin
DailyStockPicks
27 Aug 15 23:37:29
$ANFI huge bounce play as short attack put in doubt. 100%-200% upside potential $IBN $IDTI $DNKN investors read http://t.co/L1jwUV6Bag
Analyst Actions
27 Aug 15 16:59:02
$IBN: Bullish analyst action by Standpoint Research on ICICI Bank: http://t.co/0rMsqfVHwv http://t.co/tdUL7hScL6
dailystockplays.com
27 Aug 15 15:16:24
NR7 Stocks http://t.co/NYbqjNuEZQ $CPN $NWSA $ADI $NPBC $XBI $IBN $WMT $FE $EZU $VOD $AES $SUNE $ARNA $ASML $WPX $EWP $RF $TGT
WKRB News
27 Aug 15 13:08:06
Zacks Upgrades ICICI Bank to Hold $IBN http://t.co/mqJMAHATsJ
Forex Binary Option
27 Aug 15 12:53:39
RT @AmericanBanking: ICICI Bank $IBN – Investment Analysts’ Weekly Ratings Updates http://t.co/vwr2DcE1NP
US Banking News
27 Aug 15 12:46:34
$IBN - ICICI Bank #IBN - Investment Analysts' Weekly Ratings Updates http://t.co/jnKtw9OvGb
US Banking News
27 Aug 15 12:45:56
ICICI Bank $IBN – Investment Analysts’ Weekly Ratings Updates http://t.co/vwr2DcE1NP
Ticker Report
27 Aug 15 12:42:37
ICICI Bank $IBN – Investment Analysts’ Weekly Ratings Updates http://t.co/TUJn3FfFeV
Dakota Financial
27 Aug 15 12:39:14
ICICI Bank $IBN – Investment Analysts’ Weekly Ratings Updates http://t.co/EQ01TQvvka
Consumer News
27 Aug 15 12:32:41
ICICI Bank $IBN – Investment Analysts’ Weekly Ratings Updates http://t.co/1lyWuBbJ3i #acn
WKRB News
27 Aug 15 11:37:37
ICICI Bank Upgraded to Buy at Standpoint Research $IBN http://t.co/MzwcxizcOU
clayton
27 Aug 15 09:30:46
IBN 8.85 Icici Bank Ltd $IBN added to my watch list. Right now with IBN I am watching the last price 8.85 High http://t.co/QyUEKJXBPL
leahanne
27 Aug 15 08:27:53
Volume Alert - IBN 8.82 Icici Bank Ltd $IBN Hit a high today of 8.89 Closing the day 10:30 at 8.82 +0.12 +1.38 http://t.co/cpaoJGpQkK
brian sweetheart
27 Aug 15 06:21:18
Voted top trading group. http://t.co/5eVXN8RJLp Related: $GNW $EGO $IBN $GRPN $ARCP $ZIOP
Stephen s
27 Aug 15 06:17:37
RT @wolfmanOTC: http://t.co/L46QQZciCc IN PLAY: $HJOE $AUY $BABL $HASC $JCP $PTN $AMD $CHK $IBN $HCTI $SFUN $KGC $AURI $NBG http://t.co/gfy…
Stephen s
27 Aug 15 06:14:04
RT @OTCtraderDave: http://t.co/APzP66vnr4 IN PLAY: $HJOE $AUY $BABL $HASC $JCP $PTN $AMD $CHK $IBN $HCTI $SFUN $KGC $AURI $NBG http://t.co/…
Greg David
27 Aug 15 06:01:26
http://t.co/APzP66vnr4 IN PLAY: $HJOE $AUY $BABL $HASC $JCP $PTN $AMD $CHK $IBN $HCTI $SFUN $KGC $AURI $NBG http://t.co/suTjA5zP7B
ProVesting
27 Aug 15 04:59:03
$EVLV $IBN: Stocks in Focus: EVINE Live Inc. (NASDAQ:EVLV), ICICI Bank Ltd …: http://t.co/ufzfPGbwu9
Breaking News Now
27 Aug 15 03:04:02
$AVGO $AXGN $TZOO $IBN: Watch List for Traders: Avago Technologies Limited (NASDAQ …: http://t.co/hSDfwGg9fF
ProTradersNews
27 Aug 15 03:03:04
$IBN $TZOO: Trader’s Watch List: Rite Aid Corporation (NYSE:RAD), ICICI Bank …: http://t.co/mdVJiVGM1f
Dave
26 Aug 15 22:14:39
http://t.co/L46QQZciCc IN PLAY: $HJOE $AUY $BABL $HASC $JCP $PTN $AMD $CHK $IBN $HCTI $SFUN $KGC $AURI $NBG http://t.co/gfymb0v92v
InvestWithConf
26 Aug 15 19:19:03
$IBN is rated BUY, 36.1% upside by Wall Street analysts based on average ratings/targets http://t.co/AmAbzXw6Wl http://t.co/omDODW7Hvn
Analyst Actions
26 Aug 15 18:44:02
$IBN: Bullish analyst action by Standpoint Research on ICICI Bank: http://t.co/0rMsqfVHwv http://t.co/bNJCoi9Mom
Carmen Hill
26 Aug 15 17:28:52
ICICI Bank Ltd $IBN outlines recent 0.98 rate of daily change: http://t.co/oYNcS8GNhS
Jack Trader
26 Aug 15 14:43:53
$IBN ICICI Bank Ltd (ADR) (NYSE:IBN) Needs Investors Attention http://t.co/vdGtypN0dp
WallStreetConsensus
26 Aug 15 13:19:06
Upgrades 8/26: $SRPT, $MERC, $IBN, $MPC, $NTES, $SLB, $GOOG, $OSK, $LXK, $BCH, $COO, $NMBL, $GOOGL, $BBT, $CFG, $FITB http://t.co/LOYJ58LsPL
Harry Walkman
26 Aug 15 12:44:09
$IBN ICICI Bank Ltd (ADR) (NYSE:IBN) Needs Investors Attention http://t.co/TH2mokwwb2
Lucretia
26 Aug 15 12:44:03
$IBN ICICI Bank Ltd (ADR) 35.6% Potential Upside indicated by Standpoint Research http://t.co/cDjWofnYnK
Sleek Money
26 Aug 15 10:06:52
ICICI Bank Upgraded to Hold by Zacks $IBN http://t.co/gParGkS7mS
US Stock Ratings
26 Aug 15 10:02:06
Standpoint Research upgrades $IBN from Hold to Buy, target price to $12.0 http://t.co/sbd1AYX5Cq
leahanne
26 Aug 15 08:33:44
Volume Alert - IBN 8.65 Icici Bank Ltd $IBN Hit a high today of 8.88 Closing the day 10:30 at 8.65 -0.03 -0.35 http://t.co/JWUiiSYmoR
Quantcha
26 Aug 15 08:16:19
StockTwits Trending Alert: Trading recent interest in ICICI BANK $IBN http://t.co/MWyBYC4g26
Large Void Bot
26 Aug 15 08:00:28
Popular: $MON, $OVAS, $ANF, $SYT, $EXPR, $AMZN, $CAM, $SLB, $BF.B, $WPX, $EWG, $XLI, $IBN, $TLT, $BRCM, $PLD, $SLW, $XLE, $SLV, $USLV
				
				
  +Follow December 6, 2013 1:24PM
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