ICICI Securities: ICICI Bank owned 24,16,52,692 shares, or 74.85 per cent stake, in the broking firm as of March 31. Foreign institutional investors owned another 8.65 per cent stake in the brokerage.
ICICI Lombard stock jumped 14.25 per cent to hit a high of Rs 1,256.70 on BSE. ICICI Bank would acquire at least 2.5 per cent stake out of the above 4 per cent, before September 9, 2024, ICICI Lombard told exchanges.
According to the brokerage firms, ICICI Bank reported strong 4QFY23 performance on the back of healthy credit growth, margin expansion and improvement in asset quality.
Stocks in focus today: Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. Reliance Industries, Hindustan Zinc, ICICI Bank among stocks to watch on Monday, April 24, 2023.