ICICI Bank surges 11% on better-than-expected Q2 results

Net interest income rose 12.4 per cent to Rs 64.18 billion in September 2018, compared with Rs 57.09 billion in the year-ago quarter.

Shares of ICICI Bank climbed nearly 11 per cent to Rs 349apiece on BSE in the intra-day deals on Monday after the lender reported a better-than-expected results for the September quarter of FY19. 

The private sector lender saw its net profit fall by 55.8 per cent to Rs 9.09 billion against Rs 20.58 billion a year ago, which was lower than Rs 9.49 billion according to a Bloomberg poll of analysts. READ MORE

That apart, the bank also reported improvement in the asset quality as fresh slippages subsided to Rs 31.2 billion. It also guided for a significant decline