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ICICI Bank rallies 4.5% ahead of third quarter results; NII growth seen at 18%

ICICI Bank rallies 4.5% ahead of third quarter results; NII growth seen at 18%

ICICI Bank rallies 4.5% ahead of third quarter results; NII growth seen at 18%
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By Ajay Vaishnav  Jan 30, 2019 12:28:21 PM IST (Published)

ICICI Bank shares quoted at Rs 358.10, up by 3.24 percent on the NSE with as many as 1,70,31,925 shares traded as of 11.56 am.

Shares of ICICI Bank touched an intra-day high of Rs 363.20 on Wednesday, rising more than 4.5 percent ahead of the private lender's third quarter results later in the day.

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The stock has been gaining from the last two days, recovering from last week's correction when the Central Bureau of Investigation (CBI) booked former ICICI CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot for criminal conspiracy and cheating in a loan case. The agency is likely to issue summons to the accused in the near future, according to a Livemint report.
ICICI Bank is scheduled to release its earnings for the December 2018 quarter today and analysts expect a strong set of numbers.
A key thing to watch out for will be the slippages or the accretion of bad loans in a particular quarter, analysts believe. They estimate slippages to stand at Rs 2,400-3,000 crore for the December quarter, an improvement from Rs 3,120 crore in the previous quarter.
According to CNBC-TV18's poll, net interest income (NII) is expected to grow about 18 percent, highest in the last 15 quarters. Click here to read full report
ICICI Bank shares quoted at Rs 358.10, up by 3.24 percent on the NSE with as many as 1,70,31,925 shares traded as of 11.56 a.m. The stock had closed at Rs 346.85 on Tuesday.
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