ICICI Bank Shares Seen Lower Post Earnings Release

Shares of ICICI Bank fell upto 1.5pc intraday on Tuesday, after the private sector bank on Monday reported its earnings results.

On the NSE, the ICICI Bank stock opened at Rs.398.00 per share and dipped to the extent that Rs395.65 in morning time, registering a fall of 1.41pc from its Mondays’ close of Rs401.30 apiece. On the BSE, ICICI Bank shares opened at Rs.400.90 per share and declined 1.46pc to hit an intraday low of Rs395.55-per share as against their previous close of Rs.401.40.

The Bank reported a 5pc drop in its Jan-March quarter net profit to Rs.969-Crore over the equivalent quarter year ago. Net profit for the FY2018-19 fell by 50pc on year to Rs.3,363.30-Cr, on lower other income and increase in provision.

At 1:16pm, shares of ICICI Bank made a little change at Rs.399.55 per share on the NSE down Rs.1.75 (-0.44pc) lower, in comparison, the Sensex traded higher by 50.78 points at 38651 and the Nifty quoted at 11602.95, up 0.04percent.

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