Espresso shot of the day – ICICI Bank Ltd up by 10.80 percent

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Espresso shot of the day – ICICI Bank Ltd up by 10.80 percent

October 25, 2021
Espresso shot of the day – ICICI Bank Ltd up by 10.80 percent

ICICI BANK LTD. 841.05  (+10.80%) BSE – INE090A01021 | 25TH OCTOBER 2021


ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution which provides medium-term and long-term project financing to Indian businesses. Until the late 1980s, ICICI primarily focused its activities on project finance, providing long-term funds to a variety of industrial projects. With the liberalization of the financial sector in India in the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services provider that, along with its subsidiaries and other group companies, offered a wide variety of products and services. As India’s economy became more market-oriented and integrated with the world economy, ICICI capitalized on the new opportunities to provide a wider range of financial products and services to a broader spectrum of clients. ICICI Bank was incorporated in 1994 as a part of the ICICI group. In 1999, ICICI became the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the New York Stock Exchange.

Recent Drivers

  • On Oct 23, 2021, ICICI Bank Ltd reported a 30 % year-on-year (YoY) jump in standalone net profit at Rs 5,511 crores for September quarter compared with Rs 4,251 crores in the corresponding quarter last year.
  • On Oct 23, 2021, ICICI Bank Ltd reported Net Interest Income (NII) for the quarter climbed 25 % YoY to Rs 11,690 crores in September quarter compared with Rs 9,366 crores in the year-ago quarter.
  • On Oct 6, 2021, ICICI Bank announced the launch of a contactless payment service through its banking app, iMobile Pay, that enables customers to tap their smartphones to pay at POS (Point of Sale) machines of merchant outlets.
  • On Sept 30, 2021, ICICI Bank entered into an agreement for investment in equity shares of Midland Microfin (non banking financial company - microfinance institution).
  • On Sept 2, 2021, Shares of ICICI Bank Ltd crossed the Rs 5 trillion market capitalization (m-cap) mark.
   (Sources: Livemint, The Economic Times, Business Standard )


Technical Force*

  • S&P BSE Sensex month till date gain up by 3.11%
  • Traded on all time High Value Rs. 859.70
  • Spurt in volume by more than 2.11 times compare to previous vol. 3 months avg. volume: 7,69,048
  • Quantity traded: 27,87,143 | Deliverable quantity: 10,88,937 (39.07%)
  • Stock price has jumped more than 115% from one-year low level: 388.10 (Oct 30, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 859.70 | 52-week-low: 388.10

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

  249.80

194.30

157.00

101.50

64.20

8.70

-

    -

Fibonacci Pivot

194.30

158.85

136.95

122.84

101.50

80.16

66.05

44.15

-


Today’s Close

293.15

SMA

BSE

10 DAY

221.86

20 DAY

208.16

50 DAY

184.05

200 DAY

140.46


Some Key Ratios (Source: BSE)

Market Cap: 5,83,350.85 crores

PE: 29.96

OPM%: -

ROE%: 12.42

Promoters holding%: -

Prev. Close: 759.10

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.