ICICI Bank crosses the Market Cap of Rs. 8 lakh crore
ICICI Bank on Monday crossed the market capitalization of Rs. 8 lakh and became the second bank and fifth company to surpass this cap.
Crossed market cap
The private sector bank reported positive Q4 results, which led to a rally in its stock price on Monday by 5%, reaching Rs. 1160, a record high.
All-time high price
Apart from ICICI, HDFC Bank has also surpassed this market cap. In terms of Indian companies, the names include Reliance Industries, TCS, Infosys and Bharti Airtel.
Reaching the Milestone
For Q4 FY24, ICICI Bank’s net profit stood at Rs 10,708 cr, an increase of 20% on a YOY basis, while net interest income increased by 8%.
ICICI Bank Q4 results
The company’s shares were trading in a range of Rs. 1154.45 to Rs. 1168.15 on Tuesday’s first half compared to the closing price of Rs. 1160.15.