1:5 Split, 1:10 Bonus Share, Rs 8 Dividend: Top Bank Schedules Fundraise Meet, Buy For TP Rs 1125

Board Of Directors of ICICI Bank Ltd will hold meeting on April 27, 2024 to consider the proposal of fundraise. Current market price of ICICI Bank share on BSE is Rs 1066.40 with intraday gain of 1.04%. ICICI Bank shares witnessed decline of 3.42% in last 1-week and 1.63% in last 1-month. Therefore, traders can capitalize this opportunity to the buy ICICI Bank Ltd share on dips. ICICI Bank shares offered return of 20% in last 1-year and 39.10% in last 2-year.

The financially strong bank has a market capitalisation of Rs 7,49,023.89 crore. Analyst at LKP Securities has recommended buy call to ICICI Bank shares with target price of Rs 1125 apiece. The bank split face value of its share once in the ratio of 1:5 in 2014. More details below:

ICICI Bank To Consider Fundraise On April 27: As per the regulatory filing of the company dated April 19, 2024, ""fund raising by way of issuance of debt securities including by way of non-convertible debentures in domestic markets by way of private placement and issuance of bonds/notes/offshore certificate of deposits in overseas markets; and buyback of debt securities within the limits that the Board is authorised to approve under applicable law."

Buy ICICI Bank Ltd Share: According to Rupak De is Senior Technical Analyst at LKP Securities has recommended buy call to ICICI Bank share with target price of Rs 1125 per share and suggested to keep stop loss at Rs 1044 per share. The analyst said, "The daily chart displays a piercing line pattern formation, suggesting the possibility of a bullish reversal. Furthermore, the stock has crossed back above the critical short-term moving average. The shorter timeframe RSI (14) is indicating a bullish crossover and is on the rise. Additionally, a hidden bullish divergence is evident on the daily chart. In the short term, the stock could potentially move towards 1,105/1,125 and beyond. Support is positioned at 1,044 on the lower end."

ICICI Bank Share Performance: The 52-week high price of ICICI Bank on BSE is Rs 1,116.45 per share (as on 10/04/2024) and 52-week low price is Rs 844.25 per share (as on 21/04/2023), respectively. ICICI Bank shares gave return 14% in last 6-months, soared 91% in last 3-years, and surged 163% in last 5-years.

ICICI Bank Stock Split History: ICICI Bank split the face value 1 time since December 4, 2014. ICICI Bank last split the face value of its shares from Rs 10 to Rs 2 in 2014. The share traded ex-split on December 4, 2014.

ICICI Bank Dividend History: ICICI Bank Ltd announced 23 dividends since May 8, 2001. In the past 12 months, ICICI Bank announced an equity dividend amounting to Rs 8.00 per share. At the current share price of Rs 1066.40 per share, ICICI Bank offers a dividend yield of 0.75%.

ICICI Bank Bonus Share History: ICICI Bank offered 1 bonus since June 20, 2017. The last Bonus that ICICI Bank declared was in the ratio 1:10 with ex-date of June 20, 2017, according to Trendlyne.

About: ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. Until the late 1980s, ICICI primarily focused its activities on project finance, providing long-term funds to a variety of industrial projects, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of LKP Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.