Stock Market Today: ICICI Bank share price gained almost 3% on Tuesday as the stock scales 52-week high. With this the market cap of ICICI bank crossed $100 Billion Mark.
ICICI Bank thereby joined the list of top 5 companies having market cap of more than $100 Billion.
Reliance Industries Ltd and Tata Consultancy Services Ltd are the the leaders commanding a market cap of more than $225 Billion and $150 Billion respectively. In rupee terms Reliance Industries and Tata Consultancy Services market cap stands at ₹19.5 Trillion and ₹13.9 Trillion.
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ICICI Bank's Market cap that crossed $100 Billion mark, stood at slightly over ₹8.47 trillion in rupee terms
Amongst Banks ICICI now is second to HDFC Bank to enjoy $100 Billion market cap. HDFC Bank's market cap now stands at over $150 Billon at around ₹13.00 trillion.
ICICI Bank share price was also third largest gainers in the Nifty-50 companies. The ICICI Bank share price opened on Tuesday at ₹1,170.25 , marginally higher than previous close of ₹1,170.10 and there after gained further more to scale 52-week highs ₹1206 on the NSE. The ICICI Bank Share price ended the day at ₹1204, very close to the highs
Bharti Airtel and Infosys are the other two companies that have seen their market cap cross $100 Billion. Bharti Airtel still enjoys more than $100 Billion ( ₹8.46 trillion )market cap just behind ICICI Bank that now stands at number four spot. Infosys however has seen its market cap dip significantly to around $76 Billion ( ₹6.40 trillion).
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ICICI Bank share price has been rising regularly and is up 6.5% in one month and has risen more than 20% year to date.
ICICI Bank is witnessing healthy deposit inflow, while a benign Credit-Deposit ratio (lowest among large private banks) places it well to focus on profitable growth, said analysts at Motilal Oswal Financial Services. The asset quality outlook remains robust as the bank maintains strong Provisioning Coverage Ratio and a high contingency buffer (1.1% of loans), they added
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