ICICI Bank mcap tops $100 bn; becomes only sixth Indian co to hit milestone

The private sector lender joins likes of Reliance Industries, Tata Consultancy Services, HDFC Bank, and Bharti Airtel, four other domestically-listed companies with market value of more than $100 bn

ICICI Bank’s market capitalisation on Tuesday crossed the $100-billion mark for the first time, becoming only the sixth company to do so. The private sector lender joins the likes of Reliance Industries, Tata Consultancy Services, HDFC Bank, and Bharti Airtel—the four other domestically listed companies with a market value of more than $100 billion.

Previously, Infosys had also achieved the milestone. After hitting a record high of Rs 1,207, shares of ICICI Bank last closed at Rs 1,199, up 2.5 per cent, valuing the firm at Rs 8.44 trillion ($100 billion).

Over the past year, ICICI Bank's share price has risen nearly 29 percent, surpassing the 27 percent gains of the NSE Nifty 50 and the 20 percent gain of the Bank Nifty.
 

 

The board of directors of ICICI Bank is scheduled to declare its Q1FY25 results on July 27, 2024. In the previous quarter that ended March 31, ICICI Bank reported standalone net profit to 10,707.5 crore, up 17.4 percent from Rs 9,121.9 crore in the corresponding period previous year. Its net interest income in the January-March quarter grew to Rs 19,092.8 crore from Rs 17,666.8 crore a year ago.

The Bank also declared a dividend of Rs 10 per equity share of face value of Rs 2 each.