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Last Updated : May 05, 2020 10:18 AM IST | Source: Moneycontrol.com

ICICI Bank share price up 3% after Board considers raising funds via debt

The Board of Directors will also consider the approval of the audited financial results for the quarter and year ended March 31, 2020 at its meeting to be held on May 9.

 
 
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The share price of ICICI Bank jumped 3 percent in the morning trade on May 5 after the board decided to meet on May 9 to consider raising funds via debt.

"We wish to inform you that the Board of the Bank at its meeting scheduled on May 9, 2020 will raising fund by way of issuance of debt securities including non-convertible debentures/bonds/notes/offshore Certificate of Deposits in single/multiple tranches in any currency through public/private placement," the bank said in a filing to the exchanges.

The Board of Directors will also consider the approval of the audited financial results for the quarter and year ended March 31, 2020.

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The stock, which has underperformed in the last one month, was quoting at Rs 345.15, up Rs 6.90, or 2.04 percent, at 0926 hours. The stock is one of most active on NSE, with 39,44,057 shares being traded.

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The stock has been in the spotlight after it confirmed that it had exposure to Singapore-based Hin Leong Trading Pte, a top oil trading firm in the dock for its alleged failure to disclose hundreds of millions of dollars in losses over several years.

According to Moneycontrol SWOT Analysis powered by Trendlyne, ICICI Bank has shown high TTM EPS growth.

ICICI Bank

The company has zero promoter pledge and has show growth in net profit with increasing profit margin (QoQ). However, in terms of technical rating as per Moneycontrol it is bearish.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on May 5, 2020 09:48 am
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