The share price of ICICI Bank increased by 0.49 percent to open at 436.45. The stocks closed at 438.35 as Finance Minister announced the union budget 2019.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 438.90 on 26 May 2019 and a 52-week low of Rs 256.50 on 16 July 2018. The ICICI Bank stock has climbed a whopping 57% in the last one year, compared with a 12% rise in the benchmark Nifty 50 index.
Follow all latest updates from Union Budget 2019 here.
The Institution holding in the company stood at 88.79%, while Non-Institutions held 11.21%.
Global rating agency Fitch last month downgraded ICICI Bank’s long-term issuer default rating (IDR) to ‘BB+’ from ‘BBB-‘ and its viability rating to ‘bb+’ from ‘bbb-‘. The outlook on the IDR is stable. It has also affirmed ICICI Bank’s support rating at ‘3’ and support rating floor at ‘BB+’.
BB rating indicates speculative grade, while BBB points at good credit quality. The rating action comes as financial health of the private sector banks has weakened amid the challenges the
bank faces in its operating environment.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.
Comments
0 comment