ICICI Bank Ltd (ICICIBANK)

ICICI Securities Shareholders Approve Delisting and Merger with ICICI Bank - 17 May, 2024

ICICI Securities received shareholder approval to delist its stock and merge with parent company ICICI Bank, despite resistance from some retail shareholders. Minority shareholders have sought the exemption letter granted by SEBI to ICICI Bank.

ICICI Bank Board Approves Delisting of ICICI Securities Amid Controversy - 15 May, 2024

ICICI Bank has approved the delisting of ICICI Securities, which will result in public shareholders receiving 67 equity shares of ICICI Bank for every 100 shares of ICICI Securities. However, concerns have been raised about the fairness of the deal, particularly given the stock's low price relative to its potential. Reports suggest that ICICI Bank meddled with the voting process by canvassing votes from retail holders.

ICICI Bank Faces Lawsuit as Brokerage Gives Buy Call - 14 May, 2024

ICICI Bank faces a lawsuit from minority shareholders over alleged disclosure of confidential information by ICICI Securities. Meanwhile, Motilal Oswal has given a buy call on the bank's stock, setting a target price of Rs 1180 per share due to expected profit growth in the March quarter.

ICICI Bank Emerges as Top Pick Among Banks in April - 13 May, 2024

ICICI Bank shares have surged over 13 percent this year, outperforming the Nifty 50 index. The bank has received positive analyst recommendations and raised target prices. However, its market capitalization declined due to a fall in BSE benchmark. Its subsidiary India Infradebt Limited plans to raise funds through bonds. ICICI Bank's Head of Cards, Payment Solutions, E-Commerce Ecosystem, Merchant Ecosystem, and Consumer Finance, Bijith Bhaskar, resigned.

ICICI Bank's Stock Price Declines Amidst Rise in Net Profit - 11 May, 2024

ICICI Bank has witnessed a decline of 2.90% in its stock price over the last seven sessions, making it Nifty 50's fifth worst-performing stock. However, the bank's net profit rose by 17% to ₹10,707 crore in the March quarter of FY24.

ICICI Bank Faces Delisting Process and Resignation of Senior Executive - 10 May, 2024

ICICI Bank's subsidiary ICICI Securities is undergoing a delisting process. Bijith Bhaskar has resigned from his senior management role due to personal reasons. The bank was also ranked as the best company to work for in India.

ICICI Bank Acquires Stake in ICICI Lombard; ICICI Ventures Exits Investment - 09 May, 2024

ICICI Bank increases its stake in ICICI Lombard while ICICI Ventures exits its eight-year-old investment by selling its entire stake to IndiaRF. Fitch Ratings affirms Axis Bank and ICICI Bank ratings with a stable outlook.

ICICI Bank Stock Falls Amid RBI Proposal - 08 May, 2024

ICICI Bank's stock has fallen due to RBI's proposal to tighten project financing, while KR Choksey recommends a 'Buy' rating with a target price of Rs 1355 after stable Q4FY24 results.

ICICI Bank Faces Allegations, Launches New NRI Payment Facility - 07 May, 2024

ICICI Bank faces allegations of employee misconduct and influencing shareholder votes. Meanwhile, the bank has launched a new feature allowing Non-Resident Indians to use their international mobile numbers to make instant UPI payments through its iMobile Pay app.

ICICI Bank Enables UPI Payments for NRIs; Reports Strong Q4 Results - 06 May, 2024

ICICI Bank writes back Rs 100 crore on AIF provisions; reports strong Q4FY24 results with net interest income growing 8.1% YoY and PAT rising 17.4% YoY. The bank also enables UPI payments for NRI customers in India through their international mobile numbers.

Housing Credit Outstanding Reaches Record High - 05 May, 2024

Credit outstanding to the housing sector has reached a record high of Rs 27.23 lakh crore in March 2024, with experts attributing this growth to a strong revival in the residential property market post-COVID pandemic on pent-up demand.

ICICI Bank Rises, Named Top Pick by Analysts - 03 May, 2024

ICICI Bank's rise has made it the top pick among private banks, with analysts naming it a solid choice for investors. ICICI Securities also named new co-heads for its equity capital markets division.

Mixed News Impact ICICI Bank Stock - 02 May, 2024

ICICI Bank stock saw mixed news impact with the bank denying CEO Sandeep Bakhshi's exit rumors while reporting a net profit of Rs 10,708 crore in Q4 FY24. The bank also received transferred shares from Jaiprakash Associates for recovery of approximately Rs 366 crore. However, HDFC Bank, ICICI Bank, and other lenders reported a decline in NIM in Q4. SMC Global Securities advised investors to remain vigilant about Nifty 50 heavyweights, including ICICI Bank.

ICICI Bank Faces Class Action Suit Over Delisting Proposal - 01 May, 2024

ICICI Bank faces a class action suit filed by minority shareholders over its proposal to delist ICICI Securities from stock exchanges. The bank also made significant revisions in terms of investment and mutual fund KYC norms, surcharges on utility payments, and revised charges for various services.

ICICI Bank Shares Surge After Strong Q4 Results - 30 Apr, 2024

ICICI Bank's market capitalisation crosses Rs 8 trillion following better-than-expected Q4 results. Analysts recommend buying on dips and set target prices ranging from Rs 1,280 to Rs 1,350.

ICICI Bank Shares Surge to Historic Highs - 29 Apr, 2024

ICICI Bank reports a strong performance in Q4FY24, with a 17.38% YoY increase in net profit. ICICI Bank shares surge by 5.1% during intraday trade and touch a historic peak of ₹1,163 per share before finishing the trade with a gain of 4.72%, making it the fourth listed company to achieve a market capitalisation of over ₹8 lakh crore.

ICICI Bank Faces Opposition Over Delisting Plan & Reports Better-Than-Expected Q4 Net Profit - 28 Apr, 2024

ICICI Bank reported a better-than-expected Q4 net profit of ₹10,707.5 crore, but is facing opposition from shareholders over ICICI Securities' delisting plan and merger with ICICI Bank. The bank also highlighted increased spending on IT and cybersecurity in FY24 amid RBI's clampdown on Kotak Mahindra Bank. Meanwhile, ICICI Bank faces legal action from shareholders over its broking subsidiary's delisting proposal.

ICICI Bank Reports Strong Q4 Results and Declares Dividend - 27 Apr, 2024

ICICI Bank's Q4FY24 net profit rose 17% YoY to Rs 10,707.5 crore, with gross NPA at 2.16%. The bank declared a dividend of Rs 10 per share for FY24.

ICICI Bank Expects High Growth in Q4 Profit; Revises Service Charges - 26 Apr, 2024

ICICI Bank is expected to report strong Q4 results with high double-digit growth in net profit. The bank has also revised its savings account service charges effective May 1, 2024. However, the bank faced a glitch in its iMobile Pay app that exposed credit card details of around 17,000 users.

ICICI Bank Faces Glitch in Mobile App; Expected to Post Profit Growth in Q4FY24 - 25 Apr, 2024

ICICI Bank faces a glitch in its mobile app, allowing users to access other customer's details. The bank is expected to post a standalone profit of Rs 10,300 crore in Q4FY24, an increase of 12.9% YoY. Benchmark stock indices ended higher for the fourth session on Wednesday.