ICICI Securities share price surges over 7% to touch 52-week high on robust Q2 results
ICICI Securities share price surged 7.5% to hit 52-week high on Tuesday's trading session following the brokerage company's strong Q2 results. ICICI Securities stock price opened at ₹659 apiece on BSE, and touched intraday high of ₹678.75 and low of ₹653.75. According to technical analysts, ICICI Securities stock price has seen some consolidation in last couple of months but the overall trend remains strong.
The support is placed around 600 and investors can hold positions with a stoploss below this support. ICICI Securities reported a net profit of ₹424 crore on Monday for the quarter that ended in September 2023, a 41% increase over the same time the previous year. According to the regulatory statement issued by the ICICI Group company, the company's profit after tax for the second quarter of FY23 stood at ₹300.4 crore.
The total income in Q2FY24 came in ₹1,249 crore, which is 44% higher than ₹865.63 crore reported in the September 2022 quarter. The surge in income was driven by the cash and derivative segment marking a growth, apart from the momentum seen in the investment banking segment. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! "This quarter again we were able to demonstrate the benefits of pivoting to a customer centric coverage model.
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