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IBN

ICICI Bank Ltd.

6/20/2013, 8:07 AM ET

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Tuesday, May 28, 3:10 PM The fundamentals needed to support a bull market in struggling Indian equities are in place, says Jefferies, but the needed catalyst - new elections and a stable government - is about a year away. Use the time to rotate out of just-downgraded staples and IT, and into industrial cyclicals and (especially) financials. Favorite stocks: HDB and IBN. ETFs: EPI, PIN. INP, INDY, INDA, INXX, SCIF, SCIN, INDL. Comment! [Global & FX]
Friday, April 26, 12:51 PM Profits at ICICI Bank (IBN -1.5%) rose 29% Y/Y for FY13 and 21% Y/Y for FQ4 as the firm capitalized on healthy demand for retail loans. Lending for homes and autos should continue to grow at a 20% clip going forward, India's largest private bank says. Net interest margins (core banking) expanded to 3.3% from 3.1%. The bank's NPLs stood at just 2.68% of total lending and Tier-1 capital was 12.8% at the end of the quarter. (PR) Comment! [Financials, Earnings]
Thursday, April 12, 2012, 11:08 AM The RBI is expected to launch the first rate-cutting cycle in India in 3 years at its April 17 meeting, but a 25 basis point move would be little more than symbolic, argues Jeff Glekin. With the central government in "policy meltdown," it's up to the central bank to go for bold stimulus with aggressive rate cuts. EPI +23% YTD, but -21% Y/Y. Comment! [Global & FX]
Monday, March 26, 2012, 9:05 AM Premarket gainers: ARNA +9%. LGF +4%. AEZS +4%. GALE +4%. VVUS +3%. KITD +3%. RF +3%. NG +3%. WFT +3%.
Losers: IBN -3%. Comment! [On the Move]
Tuesday, January 3, 2012, 9:00 AM Premarket gainers: RMBS +11%. NOK +8%. MT +8%. PCX +6%. TS +6%. ALU +6%. LOGI +6%. BHP +5%. BAK +5%. MU +5%. VALE +5%. RIO +5%. TEVA +5%. ANR +4%. MJN +4%. GOLL+4 INFY +4%. BTU +4%. FRO +4%. X +4%. ABB +4%. GMCR +4%. MPEL +4%. RAM +4%. FCX +4%. BCS +4%. FTK +4%. CHK +4%. MS +4%. DRYS +4%. CTIC +4%. IBN +4%. AKS +3%. ACI +3%. GGGB +3%. ECA +3%.
Losers: AVEO -8%. MTG -7%. MO -4%. AMR -3%. NBG -3%. Comment! [On the Move]
Tuesday, July 26, 2011, 7:11 AM The RBI raises its benchmark rate 50 basis points to 8%, the 11th hike this cycle, and greater than the forecast 25 point jump. The bank also lifts its forecast inflation rate for March 2012 100 bps to 7%. Indian shares defy a world-wide stock rally, -1.9%. Comment! [Global & FX]
Friday, May 27, 2011, 9:00 AM Premarket gainers: AATI +55%. RUE +15%. MRVL +9%. VHC +6%. LDK +4%. CVS +4%. STO +3%. IBN +3%. HMY +3%.
Losers: MHS -11%. BCSI -7%. OVTI -4%. GLUU -4%. BWP -3%. CTICD -3%. WTW -3%. MMYT -3%. Comment! [On the Move]
Tuesday, May 17, 2011, 7:52 AM Indian shares -1.13%, led by a sharp decline in State Bank of India after the country's largest lender reports a 99% fall in Q4 profit. Much of the drop is related to extra provisions set aside to cover possible losses "teaser rate" mortgages. Shares -8.9% in Mumbai. Comment! [Global & FX]
Tuesday, May 3, 2011, 7:15 AM The RBI hikes more than expected, raising its benchmark lending rate 50 basis points to 7.25%. Even after a series of increases, real rates remain negative as inflation is running near 9%. Banking shares take a hit. HDB -2.4%, IBN -2.8% in Mumbai. Comment! [Global & FX]
Wednesday, March 30, 2011, 12:12 PM Despite powerful economic growth, vast wealth disparities and recent corruption scandals leave India with a sense something is amiss. A message from the U.S. ... get used to it. Indian shares are in the midst of a powerful rally since falling early this year. Some India ETFs. 1 Comment [Global & FX]
Thursday, March 17, 2011, 7:34 AM India hikes interest rates for the 8th time in the last year, raising its benchmark 25 basis points to 6.75%. In an ominous statement the RBI says, "The underlying inflationary pressures have accentuated, even as risks to growth are emerging." India -1.1%. 1 Comment [Global & FX]
Tuesday, March 1, 2011, 9:05 AM Premarket gainers: NVAX +33%. SONS +27%. NCZ +18%. SSN +8%. SODA +7%. PSTI +8%. DPTR +7%. AKRX +6%. GPL +6%. LO +4%. FRX +4%. IBN +4%. FIG +4%. EKX +3%. ATPG +3%. TTM +3%. HL +3%. SLW +3%.
Losers: CEDC -15%. YRCW -12%. SOL -12%. YOKU -10%. AVGO -5%. SPLM -5%. EXLP -5%. FITB -4%. LVS -4%. WES -4%. CHSP -3%. ZSL -3%. Comment!
Tuesday, March 1, 2011, 7:15 AM Indian shares stage a reversal, with the Sensex +3.5%, cutting YTD losses to about 12%. Nothing major in the news - the PMI shows solid growth and investors continue to digest Monday's budget announcement. Premarket: EPI +2.1%. TTM +5.4% in Mumbai. Comment! [Global & FX]
Thursday, February 24, 2011, 7:46 AM Indian shares have lost 14% YTD after last night's 3% slide, the largest fall since 2009. A report shows farm product prices rising 11.5% Y/Y, and spiking oil won't ease inflation concerns. Premarket: IFN -1.8%. [TTM]] -4.0%. In Mumbai, IBN -5.4%. Comment! [Global & FX]
Tuesday, February 8, 2011, 7:27 AM India continues to deal with the "triple whammy" of higher inflation, rising interest rates, and lower growth. After falling another 1.45% last night the Sensex is down 13.4% YTD. ICIC Bank (IBN) -2.98% in Mumbai. Premarket: EPI -1.0%. Comment! [Global & FX]
Friday, February 4, 2011, 7:22 AM Markets price in another rate hike as Indian PM Singh warns, "inflation poses a serious threat to (growth and) needs to be tackled with great urgency." Inflation in India is running at 8.4%, including 17% for food. India -2.4%. Premarket: EPI -1.8%. PIN -1.1%. Comment! [Global & FX]