Covid impact: Stock markets crash

Equity benchmark Sensex plummeted over 1,400 points in early trade today, tracking losses in index-heavyweights HDFC twins, ICICI Bank and Reliance Industries as spiking Covid-19 cases in the country spooked investors amid negative cues from global markets. Continue Reading

ICICI’s profit declines in September

Private sector lender ICICI Bank posted a 6.09 per cent decline in consolidated net profit for the September quarter at Rs 1,131.20 crore. It had reported a net profit of Rs 1,204.62 crore for the July-September period a year ago. Continue Reading

7 of top-10 firms add Rs 76,998 cr in market capitalisation

The combined market capitalisation of seven of the 10 most valued Indian firms advanced by Rs 76,998.4 crore last week, with TCS leading the chart. Reliance Industries Limited (RIL), HUL, HDFC, ITC, ICICI Bank and SBI were the other firms which witnessed a jump in their market valuation Continue Reading

ICICI bank sells entire stake in GST Network

Private sector ICICI Bank said it has exited the GST Network, the company facilitating collection of the indirect tax, by selling its entire 10 per cent stake to as many as 13 state governments. The stake sale is for aggregate cash consideration of Rs 1 crore, ICICI Bank said in a regulatory filing. Continue Reading

Rupeek Gold loans launches doorstep delivery

Rupeek is backed by ICICI bank, Karur Vysya Bank, Federal Bank acting as lending partners to ensure transparency and safety to its customers. Founder and CEO, Rupeek, Sumit Maniyar said, “We are excited about stepping into the Chennai market. We help our customers fulfill immediate credit requirements with a 30-minute doorstep gold loan.” Continue Reading

Eight firms spike over Rs 77,000 crores in market valuation last week

Eight of the 10 most valued domestic companies together added Rs 77,222.53 crore in market valuation last week, propelled by sharp gains in HDFC twins and ITC. Continue Reading

Lord Athi Varadar festival: ICICI Bank sets up mobile ATM

Private sector ICICI Bank on Thursday said it had set up mobile ATM facility aimed at benefitting the large number of devotees thronging the Devarajaswamy Temple in neighbouring Kancheepuram district for the Lord Athivaradhar festival. Continue Reading

ICICI Bank posts Rs 1,908 cr Q1 standalone net profit

The bank’s core net interest income grew 26.8 per cent to Rs 7,737 crore on expansion in net interest margin to 3.61 per cent from 3.19 per cent in the year-ago period and an 18 per cent credit growth fuelled by retail segment’s 22 per cent expansion. Continue Reading

ICICI buys 9.9% stake in NBFC Kisan Finance

The bank said it will buy 1.49 crore shares to acquire 9.9 per cent stake in Kisan Finance for Rs 17.82 crore. The acquisition is expected to be over by the end of March 2019, the bank said in a regulatory filing. Continue Reading