ICICI Bank Stock: ICICI Bank reported its March 2024 quarter consolidated net grew 18.5 per cent to Rs 11,672 crore. It had reported a net profit of Rs 9,853 crore in the year-ago period.
The private sector lender reported a healthy performance in Q4, with 17% year-on-year (YoY) growth in profit amid contained opex and provisions. The pace of NIM contraction decelerated, down 3 bps quarter-on-quarter (QoQ) at 4.4%.
In the upcoming period, bullish momentum may propel the Nifty s rebound towards the 22,300 mark. Additionally, a firm breakthrough above 22,300 could initiate a prolonged rally towards 22,600. Conversely, on the downside, support at a closing basis rests at 22,000.