( Recommended in SAKAL NEWS PAPER. Arthvishwa ) : 13th April 2009
ICICI Bank Ltd : Rs 397.70Notable observes :
- ICICI Bank, a private sector bank is a multi-specialist financial service provider with leadership position across the spectrum of financial services in India.
- ICICI Bank is the 2nd largest bank in India and Bank breaking into the top 100 financial institutions in the world, in terms of market capitalisation.
- ICICI running its business with six principal groups, such as Retail Banking, Wholesale Banking, International Banking, Rural, Micro Banking and Agri-Business, Government Banking and Corporate Centre.
- The Bank offers a wide spectrum of domestic and international banking services to facilitate trade, investment banking ,Insurance, Venture Capital, asset management, cross border business & treasury and foreign exchange services besides providing a full range of deposit and ancillary services for both individuals and corporates through various delivery Channels and specialized subsidiaries.
Share Holding patern :
- Institutions, Mutual Funds & Fiis : 58.98 %
- Public : 13.92 %
Financial Highlights :
- Net profit of Rs 1272.15 Crore for the quarter ended December 31, 2008 as compared to Rs 1230.21 Crore for the quarter ended December 31, 2007.
- Income has increased from Rs 10338.36 Crore for the quarter ended December 31, 2007 to Rs 10350.62 Crore for the quarter ended December 31, 2008.
Technical Overview :
- The stock On Day Chart has given an "Inverted Head & Shoulder Pattern" breakout with good volumes indicating a trend reversal.The stock is recommended to buy cmp Rs 397.70
Support Levels :
- Support 1 : 382
- Support 2 : 360
- Support 3 : 348
- Support 4 : 334
Stoploss : 314 on closing basis.
Targets :
- Target 1 : 423
- Target 2 : 438
- Target 3 : 495
- Target 4 : 532
Period : 2 to 3 months.