Stock market analysts have maintained ‘buy’ rating on ICICI Bank with an intraday target of 650.

According to them, interested traders can purchase the stock above Rs 635 with a strict stop loss of Rs 630. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 660.
 
Shares of the bank, on Thursday (Aug 28), closed at Rs 633.90 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 957190. Current EPS & P/E ratio stood at 36.93 and 18.22 respectively. The share price has seen a 52-week high of Rs 1465 and a low of Rs 515.10 on BSE.

The stock has good potential and it can still exhibit superb surge. Yesterday, the banking stocks performed well and there are also great expectations from the sector in today’s session. So grab the chance and reap better gains.

Kalpana Morparia, regarded in the Indian financial sector as one of the public faces of ICICI Bank and a trouble-shooter for the group put in her papers

She was ICICI’s public face at different global meetings and in the front line of bad debt resolution in the institution.

On August 25, the bank allotted 3,893 equity shares of face value of Rs 10 each on Aug. 18, 2008 under the employees stock option scheme, 2000 (ESOS).

ICICI Bank, on August 20, sold $275 million worth of highly volatile credit derivatives out of the country in order to restrict its exposure to such portfolios.

Moreover, the bank on August 19 signed up a $250 million deal with Export-Import (Exim) Bank of United States to finance capital goods imports of Indian corporates from USA.

On August 12, ICICI Bank allotted 859 equity shares of face value of Rs 10 each on Aug. 04, 2008 under the employees stock option scheme, 2000 (ESOS).

Other stocks from the same sector that looks good for short-term as well as long-term trading includes HDFC Bank, Axis Bank, Yes Bank and Kotak Mahindra.