ICICI Bank, one of India’s largest banks, reported its Q4 earnings recently and the bank’s share price has been declining steadily in the past few days. What does this mean for the bank? And how does it affect the overall financial market? Here’s a look at ICICI Bank’s share price – current trend analysis.
Introduction
ICICI Bank, one of the oldest private banks in India and among the top ten Indian-owned banks, has always attracted investors with its low-risk proposition. It follows a conservative business model which drives down the risks associated with lending and invests primarily in government securities. In recent years it has pursued new products such as car loans to target a broader clientele which will open up more opportunities for it to grow in the future.
Analyzing the Last 3 Months
The share price of ICICI bank has steadily increased in the last three months, from 207 to 240, which is an increase of about 10%. The current trend analysis suggests that it’s worth investing in ICICI bank shares. There have been no major fluctuations in its share price over the past few months and this could be a good sign for investors. However, it may be a good idea to wait and watch for more stability before you invest any money into ICICI bank shares.
Technical Analysis of ICICI Bank’s Shares over 6 Months
At the end of May 2017, ICICI shares were trading at Rs. 454 with a Return on Equity (ROE) of 12.6% and a Return on Assets (ROA) of 0.25%. With an increasing trend in bank deposits and advances, investors are likely to favor bank stocks. Given this trend, the price may be expected to rise and hence can be considered an investment opportunity for long-term investors. The volume of trades on ICICI Bank has been steadily rising for the last six months which indicates that investor confidence is increasing too. Hence, it can be said that there is not any negative impact on its share price so far.
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