ICICI Bank is a company where people invest money to get more money. Instead of just putting money in a bank account, some people buy parts of the bank, called shares, to make more money.
ICICI Bank’s shares have been doing very well recently. The value of these shares went up by 2.50%, reaching Rs 1015, which is the highest it has ever been.
The experts, or people who know a lot about this, say that ICICI Bank’s shares have been doing well for three days in a row. In the last six days, the shares went up by 7.38%.
This year, it has given back 12.81% to the people who invested in it. This is better than a big group of other banks.
The bank is now the fourth most valuable Indian company, worth ₹7,08,062 crore.
Why are the shares doing well? Some experts think it’s because a political party, BJP, did well in recent elections.
This makes people feel confident about the future of the country. Another company, Motilal Oswal, thinks ICICI Bank’s shares could go up to ₹1120 each. They say people should still buy these shares.
ICICI Bank also made a lot of money in the last three months. The money it makes from loans, called net interest income, went up by 23.8% to ₹18,308 crore.
The bank is also good at managing its money, as the net interest margin increased by 22 basis points to 4.53%.
The bad loans, called non-performing assets, are not a big problem for ICICI Bank. Only 2.48% of the loans are not being paid back, which is good for a bank.
Because ICICI Bank is doing well, a company called Geojit Financial changed its advice about the shares.
They now say it’s a good time to buy, not just hold, with a target price of ₹1054 for each share.
