Buy ICICI Bank With Stop Loss Of Rs 939

Buy ICICI Bank With Stop Loss Of Rs 939Technical analyst Prabir Kumar Sarkar of SPA Securities maintained 'buy' rating on ICICI Bank Limited stock with targets of Rs 980 and 1000.

According to analyst, the interested investors can buy the stock above Rs 960 with a stop loss of Rs 939.

Today, the stock of the bank opened at Rs 960 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1277 and a low of Rs 803 on BSE.

Current EPS & P/E ratio stood at 40.86 and 23.67 respectively.

ICICI Bank stated that it has signed a MoU with Aircel for a combined idea to drive financial inclusion in India.

Aircel is a major mobile network manipulator in India.

Under the deal, the bank will provide, in affiliation with Aircel, a range of financial products comprising savings accounts, pre-paid tools and credit products.

ICICI Bank's net profit for the three month period of FY11 surged 30.5% to Rs 1,437 crore as against Rs 1,101 crore in the same period of 2009 on account of an increase in NIL and fee income.

Bank's outstanding advances at the end of the quarter soared 15.3% to Rs 2,06,692 crore.

In the meantime, deposits rose 10% to Rs 2,17,747 crore as against Rs 1,97,653 crore during the same period.