ICICI Bank share price in focus ahead of Q3 results today. Do you own?
Stock market today: After hitting below ₹1,000 apiece levels during the recent selloff in the Indian stock market, ICICI Bank share price regained the psychological ₹1,000 level during morning deals on Saturday. While regaining this, ICICI Bank's market cap also came above ₹7 lakh crore. ICICI Bank share price today opened upside at ₹1,005.95 per share level on the NSE and went on to touch an intraday high of ₹1,007.90 per share within a few minutes of the opening bell.
According to stock market experts, ICICI Bank Q3 results 2024 are coming today and the market is expecting healthy numbers from the private lender. They went on to add that the second-largest private lender in India may report solid loan book growth and robust retail franchises. However, they are expecting NIMs compression to further continue during the October to December 2023 quarter.
Experts went on to add that ICICI Bank shares are looking positive on the chart pattern as well. The stock is facing a hurdle at ₹1,020 levels and on breahing this hurdle decisively, it may go up to ₹1,050 levels. Also Read: IREDA share price hits lifetime high ahead of Q3 results today.
Buy or sell? On market expectations from ICICI Bank Q3 results today, Shreyansh V Shah, Research Analyst at StoxBox said, "We expect the second largest private sector bank to come out with healthy numbers in Q3FY24 aided by solid loan book growth and robust retail franchise. Though there would be some NIM compression continuing in Q3FY24 due to the passing of the increased cost of funds, the absolute profitability would show a double-digit growth on an annual basis. We expect RoA to be in the range of 2.3-2.5% and RoE in the range of 15-18% annualized this quarter." However, the bank’s
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