Dec 11, 2006, 01.58 PM IST
The amalgamation of Sangli Bank with ICICI Bank has once again highlighted the role of old private sector banks in the consolidation exercise.
For ICICI Bank, the merger would give it an immediate access to 198 branches of Sangli Bank, apart from strengthening its rural portfolio. However, unlike in some of the recent takeover deals in banking sector, it is difficult to figure out as to what synergies the merger is likely to result in. Most importantly, there is no clarity on the underlying logic for ICICI Bank to go for a takeover unlike in the case of IDBI's takeover of United Western Bank or Federal Bank's takeover of Ganesh Bank of Kurundwad.
Contd on page 2.......
ICICI Bank stock price
On December 09, 2013, ICICI Bank closed at Rs 1201.75, up Rs 59.00, or 5.16 percent. The 52-week high of the share was Rs 1236.90 and the 52-week low was Rs 758.80.
The company's trailing 12-month (TTM) EPS was at Rs 79.51 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 15.11. The latest book value of the company is Rs 577.71 per share. At current value, the price-to-book value of the company is 2.08.
Action in ICICI Bank
Video of the day
Dec 6 2013, 15:02
- in MARKET OUTLOOK
Dec 4 2013, 11:08
- in FII View
We notice that this Email ID is already verified against Moneycontrol User ID. Just enter your password and login to Set Alert.
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.