Stock market analysts have maintained ‘buy’ rating on ICICI Bank stock with an intraday target of Rs 588. 

According to them, interested traders can purchase the stock above Rs 576 with a strict stop loss of Rs 557. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 602. 
 
Shares of the company, on Thursday (Sep 18), closed at Rs 575.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4581171. Current EPS & P/E ratio stood at 36.93 and 16.06 respectively. The share price has seen a 52-week high of Rs 1465 and a low of Rs 515.10 on BSE. 

Finance Minister P Chidambaram assured that the Indian banking sector was unaffected by the US crisis. This will help banking stocks to move upward.

On Thursday (Sep 18), ICICI Bank gained Rs 15.55 at Rs 575.85, as against it laso closure at Rs 560.30 on Wednesday (Sep 17). The stock has great potential to go upside. It can still exhibit superb surge. It will achieve the target price as the banking institution has healthy growth plans and well-built operating capabilities. The long term traders are recommended to hold the stock. 

India’s largest private sector lender, ICICI Bank has allotted 17,300 equity shares of face value of Rs 10 each on Sep 08, 2008 under the ESOS, 2000.

The bank said no to the rumors that its top functionaries have been selling their holdings in the lender. 

ICICI Bank said that all these reports are unjustified and reckless. 

On Sep 10, the bank has allotted 8,225 equity shares of face value of Rs 10 each on Sep 01, 2008 under the employees stock option scheme, 2000 (ESOS).

ICICI Bank provides a wide range of banking products and financial services to business as well as retail clients through various delivery channels and via its specialized arms and partners in different fields including investment banking, life and non-life insurance, venture capital and asset management.

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