ICICI Bank shares gain over 3%; market-cap zooms Rs 8,926 cr post Q1 results
Shares of ICICI Bank jumped over 3 percent on Monday after the company reported a standalone net profit of Rs 1,908 crore for the June quarter
During the day, ICICI Bank shares gained 4.62 percent to Rs 434.70
It's market valuation jumped Rs 8,925.64 crore to Rs 2,77,030.64 crore on the BSE
The bank reported a standalone net profit of Rs 1,908 crore for the June quarter
New Delhi: Shares of ICICI Bank jumped over 3 percent on Monday after the company reported a standalone net profit of Rs 1,908 crore for the June quarter.
The scrip went up 3.32 percent to close at Rs 429.30 on the BSE. During the day, it gained 4.62 percent to Rs 434.70.
On the NSE, shares climbed 2.89 percent to close at Rs 427.80.
The company's market valuation jumped Rs 8,925.64 crore to Rs 2,77,030.64 crore on the BSE.
The scrip was the top gainer among the frontline companies on both the key indices.
In traded volume, 35.34 lakh shares were traded on the BSE and over four crore shares on the NSE.
The bank had posted a net loss of Rs 120 crore in the year-ago quarter.
Total income on a standalone basis in the reported quarter rose to Rs 21,405.50 crore from Rs 18,574.17 crore a year earlier, the bank had said in a regulatory filing on Saturday.
The lender witnessed an improvement in asset quality as gross non-performing assets (NPAs) fell to 6.49 percent of the gross advances by the end of June 2019, from 8.81 percent a year ago.
Net NPAs were 1.77 percent, down from 4.19 percent a year ago.
The bad bank or NARCL will pay up to 15 percent of the agreed value for the loans in cash and the remaining 85 percent would be government-guaranteed security receipts
DICGC has also asked the banks to circulate consent forms to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days