ICICI Bank Share Price may reverse from Rs 1258 to Rs 1205, 1257 remains strong resistance
ICICI Bank’s share price is a focal point for investors. The latest trading price stands at ₹1,250.35 on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This marks a slight decrease from the previous close of ₹1,253.75, reflecting a broader trend in the banking sector.
Main Points
- 1 Current ICICI Bank Share Price and Market Performance
- 2 Key Technical Levels
- 3 ICICI Bank Share Price Financial Insights
- 4 ICICI Bank Share Price Investment Sentiment
- 5 ICICI Bank Share Price Shareholder Composition
- 6 ICICI Bank Share Price Dividend History
- 7 ICICI Bank Share Price Market Comparisons
- 8 ICICI Bank Share Price Future Outlook
- 9 Summary of Key Metrics
The share price of ICICI Bank has shown fluctuations in recent trading sessions. Over the last week, it reached a low of ₹1,227 and a high of ₹1,258. The stock has been actively traded, with volumes reaching over 10 million shares daily. The current market capitalization of ICICI Bank is approximately ₹8,70,434 crore, positioning it as one of the leading private sector banks in India.
Key Technical Levels
For traders and investors looking to navigate the current market conditions, understanding key support and resistance levels is crucial:
- Support Levels: The immediate support level is observed at ₹1,205. A breach below this level could signal further downside potential.
- Resistance Levels: On the upside, resistance is noted around ₹1,258. If the stock can break above this level with strong volume, it may indicate bullish momentum.
ICICI Bank has reported robust financial performance recently. The bank’s net interest margin has been on an upward trajectory, currently standing at 3.61%. This is a positive indicator for profitability as it reflects the bank’s ability to manage its interest income effectively. In terms of growth metrics:
- Year-on-Year Advances Growth: ICICI Bank reported a significant year-on-year increase of 16.32% in its advances.
- Profitability: The profit after tax for the last quarter was ₹11,059 crore, marking a year-on-year growth of 14.6%.
Investor sentiment around ICICI Bank remains cautiously optimistic. Analysts suggest that despite recent fluctuations in share prices, the underlying fundamentals remain strong. The bank’s ability to maintain low non-performing asset (NPA) ratios—currently at 0.43%—is particularly noteworthy as it indicates effective risk management.
The ownership structure of ICICI Bank reflects significant institutional interest:
- Foreign Institutional Investors (FII) hold approximately 45.46% of shares.
- Domestic Institutional Investors (DII) account for about 44.71%.
This strong institutional backing often provides stability to the stock price and can influence future price movements positively.
ICICI Bank has also been consistent in rewarding its shareholders through dividends. Recently, a final dividend of ₹10 per share was declared on August 12, 2024. This reflects the bank’s commitment to returning value to its shareholders amidst its growth trajectory.
When compared to its peers in the banking sector:
- HDFC Bank shares are priced at ₹1,665.95 with a market cap exceeding ₹1 trillion.
- Axis Bank trades around ₹1,217.45 with a notable performance in recent quarters.
ICICI Bank’s P/E ratio stands at approximately 19.00, which is competitive within its sector but suggests that investors are willing to pay a premium for its growth potential.
Looking ahead, analysts project that ICICI Bank will continue to benefit from India’s growing economy and increasing demand for banking services. However, external factors such as inflation rates and global economic conditions may influence market dynamics.Investors should keep an eye on upcoming quarterly results and any announcements regarding strategic initiatives that could impact the bank’s performance.
Summary of Key Metrics
| Metric | Value |
|---|---|
| Current Share Price | ₹1,250.35 |
| Market Capitalization | ₹8,70,434 crore |
| P/E Ratio | 19.00 |
| Net NPA Ratio | 0.43% |
| Last Quarter Profit After Tax | ₹11,059 crore |
| Dividend Declared | ₹10 per share |
With these insights into ICICI Bank’s current share price and market standing as of September 16, 2024, investors can make more informed decisions regarding their investment strategies.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
