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ICICI Bank slips after block deals on NSE

Capital Market / 14:04 , Feb 08, 2012

ICICI Bank fell 1.51% at Rs 922.75 at 14:00 IST on BSE on reports Allamanda Investments Pte, a unit of Singapore state investment company Temasek Holdings, offloaded a part of its 3.46% stake in the bank through block deals today, 8 February 2012.

Meanwhile, the BSE Sensex was up 130.41 points, or 0.74%, to 17,752.86.

A massive volume of 2.05 crore shares was recorded in the counter on NSE, which represents 1.78% equity of the bank. On BSE, 10.15 crore shares were traded in the counter as against an average daily volume of 7.25 lakh shares in the past one quarter.

The stock hit a high of Rs 930 and a low of Rs 913 so far during the day. The stock had hit a 52-week low of Rs 641 on 19 December 2011. The stock had hit a 52-week high of Rs 1,137.90 on 15 April 2011.

The stock had outperformed the market over the past one month until 7 February 2012, gaining 25.68% compared with the Sensex's 11.19% rise. The scrip had also outperformed the market in past one quarter, rising 5.84% as against 0.34% rise in the Sensex.

India's largest private sector bank by branch network has an equity capital of Rs 1152.59 crore. Face value per share is Rs 10.

About 1.6 crore shares, or 1.4% equity, of ICICI Bank were reportedly sold in multiple block deals on the National Stock Exchange (NSE) at an average price of Rs 925 per share.

As on 31 December 2011, Allamanda Investments Pte held 3.98 crore shares, or 3.46% stake in ICICI Bank.

ICICI Bank's net profit rose 20.25% to Rs 1728.10 crore on 24.14% growth in total income to Rs 10,483.73 crore in Q3 December 2011 over Q3 December 2010. The result was announced on 31 January 2012.

ICICI Bank's capital adequacy ratio as per Reserve Bank of India's guidelines on Basel II norms was 18.88% as on 31 December 2011 from 19.98% as on 31 December 2010.

Net non-performing assets decreased by 28% to Rs 2,082 crore ($ 392 million) at 31 December 2011 from Rs 2,873 crore ($ 541 million) at 31 December 2010. The bank's net non-performing asset ratio decreased to 0.70% at 31 December 2011 from 1.16% at 31 December 2010 and 0.80% at 30 September 2011. The bank's provision coverage ratio computed in accordance with the RBI guidelines at 31 December 2011 was 78.9% compared to 71.8% at 31 December 2010. Net restructured assets at 31 December 2011 were Rs 3,070 crore ($ 578 million).

Advances rose 19% to Rs 246,157 crore in Q3 December 2011 over Q3 December 2010. Current and savings account (CASA) ratio increased to 43.6% at 31 December 2011 from 42.1% at 30 September 2011.

ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management.

 



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