Technical analyst Hitesh Eidnani of Trend Tech Consultants has maintained 'sell' rating on ICICI Bank stock with a short-term target of Rs 1050.

According to analyst, the investors can sell the stock with a stop loss of Rs 1110.

The analyst also said that the stock will drop further, so it's better to sell it now.

The stock of the company, on December 15, closed at Rs 1078.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1277 and a low of Rs 780 on BSE.

Current EPS & P/E ratio stood at 38.06 and 28.53 respectively.

ICICI Bank Ltd has entered into loan deals worth $1.5 billion with two Chinese banking institutions.

Industrial and Commercial Bank of China Ltd. (IDCBY) will supply a loaning amount of $1 billion to ICICI Bank and China Development Bank an additional $500 million to assist Indian firms fund imports from China.

ICICI Bank recorded net profit of Rs 12,362.7 million for the three month period ended Sep 2010 as compared to Rs 10,401.3 million for the same quarter of 2009.

Interest earned remained at Rs 63,091 million for the period under review.