ICICI Bank Limited reported strong Q1-2024 results, with core operating profit up 35.2% YoY, profit after tax up 39.7% YoY, and total period-end deposits growing by 17.9% YoY. The bank maintained healthy asset quality and capital adequacy.
Biggest gainers on the Nifty included NTPC, Bajaj Finance, IndusInd Bank, UltraTech Cement and Bajaj Finserv, while losers were Hindalco Industries, Bajaj Auto, Hero MotoCorp, TCS and Maruti Suzuki
Religare Retail Research is bullish on ICICI Prudential Life Insurance Company has recommended buy rating on the stock with a target price of Rs 679 in its research report dated July 19 2023.
The 30-share BSE Sensex pack surged more than 300 points to touch its all-time high of 67,109, while the broader NSE Nifty moved over 100 points up to scale a fresh record peak of 19,839. The domestic indices traded higher, powered by Reliance Industries (RIL) ahead of the demerger of its financial services unit, HDFC Bank's strong June-quarter (Q1 FY24) results and Infosys after bagging $2 billion AI deal.
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