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The impressive financial performance has instilled confidence among investors, driving ICICI Bank's share prices.

Due to lower output commodity prices and lower sales, the business recorded an EBITDA of Rs 6,975 crore for the April–June period, a 35% decrease from Rs 10,741 crore in the same time last year.

Recommendation: Reduce; Target Price: Rs 301

Operating revenue for the period dropped just 1%, to Rs 1,423 crore in the June quarter.

Recommendation: Add; Target Price: Rs 1050

In comparison to the same quarter last year, the companies have seen a sharp decline in workforce addition.

Outperformance was starker in Ebitda with Page recording a 4 year Ebitda Cagr of 8.7% vs. 4-12% decline for its peers.

According to the National Stock Exchange's (NSE) bulk deal statistics, BNP Paribas Arbitrage purchased 88,85,979 shares or 0.5% of the private lender.

Brent crude futures had fallen 41 cents, or 0.5%, to $80.66 per barrel. American West Texas Intermediate crude was down 37 cents or 0.5% at $76.70 a barrel.

Petrol and Diesel prices in cities across India on 24-07-2023