India’s second-largest private lender, ICICI Bank, could report a double-digit growth in its March quarter net profit, according to estimates by four brokerages. The bottomline range is seen between Rs 11,822 crore and Rs 12,350 crore, which could be a 10-15% uptick on a year-on-year basis. Lender’s net interest income (NII), which is a difference … Read more
The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the lower tribunal’s orders to approve the scheme of arrangement for delisting of broking firm ICICI Securities Ltd from the bourses. Last year in August and October, Mumbai and Ahemadabad benches of the National Company Law Tribunal (NCLT) approved applications filed by the ICICI Securities … Read more
The Indian market is likely to trade higher on Monday, tracking positive global cues. The Nifty futures closed positive with gains of 0.84%, ending at 24,318 levels on Friday. India VIX fell by more than 5% to close at 14.42 in the previous session. On the options front, the maximum Call OI is placed at … Read more
Brokerage firm UBS has a sell view on SBI Cards, Nomura has a neutral rating on IndusInd Bank. Meanwhile, Morgan Stanley and Macquarie have an overweight and outperform rating respectively on ICICI Bank. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on SBI Cards: Sell| Target … Read more
Market regulator Securities and Exchange Board of India (Sebi) has issued a warning to ICICI Bank on the outreach undertaken by the lender regarding the delisting of ICICI Securities. The regulator said the outreach programme was done with the objective of maximising participation in the voting process. “The outreach was done in face of a … Read more
Brokerage firm Morgan Stanley maintained an overweight rating on RIL and an overweight rating on Indian Oil Corporation (IOC). Sharekhan recommended a buy on ICICI Bank and ICICIdirect has a buy rating on PCBL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on RIL: Overweight| … Read more
The Indian market snapped a 6-day winning streak and closed lower on Friday as traders preferred to book profits at higher levels. The S&P BSE Sensex fell more than 800 points, while the Nifty50 closed below the 19,800 mark on Friday. Sectorally, some buying was seen in capital goods and infra stocks while selloff was … Read more
Taking inspiration from Chandrayaan-3, Nifty50 has skyrocketed into uncharted territory. Amid strong optimism in the market, Nifty50 just scaled the 19,900 mark, but many are eagerly awaiting the next big target – the magical 20,000 figure. In just 15 sessions, the NSE flagship index has rallied nearly 900 points from the 19,000 level, hit on … Read more
NEW DELHI: India’s second largest private sector lender ICICI Bank shares rallied over 2.5% today to Rs 906.75 after analysts said its Q4 earnings were flawless for the thirteenth quarter in a row. The bank reported a solid 30% YoY profit growth on the back of 35% YoY operating profit growth. In the March quarter, … Read more
It was yet another fantastic day for the banking pack on Dalal Street, as the Nifty Bank index surpassed the 43000-point mark for the first time ever on Thursday and notched more than 4% gains in the November derivative series. This is the second straight series of gains for the sectoral index, cumulatively rising 14% … Read more