The market value of ICICI Bank has crossed the Rs 5 trillion mark. The market capitalization of the bank has surged over 35 per cent so far this year.
ICICI Bank stock touched a lifetime high of Rs 734.80 on the NSE in intra-day trade on Wednesday. It closed at Rs 719.90.
On the BSE, the private sector lender’s stock touched a lifetime high of Rs 734.85 in intra-day trade on Wednesday. It closed at Rs 719.20.
At the closing price, the lender was valued at Rs 4.98 trillion.
ICICI Bank is the sixth most valuable company in the country. The other firms to achieve this milestone are Reliance Industries, Tata Consultancy Services, HDFC Bank, HDFC Ltd, Hindustan Unilever and Infosys.
In the banking sector, HDFC Bank is the only lender that has higher value than ICICI Bank. Its market valuation is at Rs 8.74 trillion.
ICICI Bank Limited was incorporated in the year 1994.
According to Emkay Global’s target, ICICI Bank share price will touch Rs 825. The time period given by the analyst is one year.