This is an intraday call for the day traders who want to make sound profit in today’s trading session.

According to the analysts, ICICI Bank can be purchased with the stop loss of Rs 418 to achieve the intraday target of Rs 442. If the stock remains positive then the stock may be purchased for the next intraday target of Rs 450.

Shares of the bank, on Monday (Feb 09), closed at Rs 428 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1696326. The share price has seen a 52-week high of Rs 1237.50 and a low of Rs 282.15 on BSE. The current P/E ratio is 11.44 and EPS is 37.41 per share.

As per the financial chart, ICICI bank has recorded posted a considerable increase of 39.29% in consolidated net profit of Rs 15,597.6 million for the three month period ended December 31, 2008 as against Rs 11,198.2 million during the same period if the last year.

The bank’s total Income grew 8.11% to Rs 169,227.3 million.

The bank announced a marginal growth in standalone net profit for the period under review. The profit of the bank rose 3.41% to Rs 12,721.50 million.

The bank reported EPS of Rs 11.42 during the quarter, registering 3.16% growth over prior year period.

ICICI Bank, on Feb 06, fired one of its forex dealer who had executed inappropriate forex forward trades by fulfilling deals to favor four Kolkata-based business houses.

Mr. K V Kamath, bank’s CEO & MD, on Jan 19, said that the bank’s interest rates are likely to come down in next six weeks.
 
To help aid SMEs, ICICI bank will cut interest rates on business loans and wholesale credit. Moreover, it will start lending at lower cost with the lowering of borrowing cost.

On Jan 5, the bank signed a deal with BSNL Cell One to permit latter’s clients to make their payments via bank’s website.

ICICI bank registered 50% growth in Canada, crossing $6 billion mark in assets and hit a customer base of 250,000 during the last year (2008).

Other best options from the same segment are HDFC Bank, YES Bank and Kotak Mahindra.