ICICI Bank Sees Earnings Surge, Boosts Market Confidence
ICICI Bank's shares soared nearly 3% after announcing a 15.9% increase in consolidated net profit for the June quarter, totaling Rs 13,558 crore. The positive results led to a market valuation surge and boosted equity markets. The core net interest income grew by 10.6%, driven by domestic loan growth.
- Country:
- India
Shares of ICICI Bank showed significant gains on Monday, rising nearly 3% after the financial institution reported a strong performance in its consolidated net profit for the June quarter.
The bank's stock increased by 2.76% to close at Rs 1,465.85 on the BSE, after peaking at Rs 1,467.60 during trading. At NSE, the shares also rose by 2.71%, closing at Rs 1,464.50 each.
ICICI Bank's market valuation saw a remarkable boost, climbing Rs 30,147.5 crore to a total of Rs 10,46,090.50 crore. This positive outcome was mirrored in broader equity markets, with the BSE Sensex gaining 442.61 points and NSE Nifty rising by 122.30 points.
(With inputs from agencies.)
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