Shares in ICICI Bank hit a 52-week high of Rs 180.30 on Thursday on buyings by foreign institutional investors (FIIs).
The scrip shot up by 13.49 per cent to Rs 177.50. More than 47.90 lakh shares were traded on the Bombay Stock Exchange (BSE).
The scrip is said to be attractively priced compared with other bank stocks and is attracting buyers.
As per market scuttlebutt, the bank is likely to place its shares with strategic investors at a premium to the market price and is also planning to offload its stake in Federal bank and South Indian Bank.
For the first quarter ended June 30, 2003, ICICI Bank posted a 34.5 per cent rise in net profit at Rs 340.2 crore compared with Rs 252.9 crore in the corresponding quarter of the previous year.
