Deal powers ICICI Bank scrip by 7%
ICICI Bank's stock surged 7 per cent on Monday, adding Rs 9,771.57 crore to its market valuation, as NPA worries in the banking sector receded following the $13-billion asset sale by Essar Oil for paring debt. The stock jumped 6.91 per cent to settle at Rs 258.55 on BSE. Intra-day, it zoomed 7.31 per cent to Rs 259.55.
On NSE, the stock soared 7 per cent to end at Rs 258.75. ICICI bank's market valuation rose by Rs 9,771.57 crore to Rs 1,50,453.57 crore. The stock was the top performer among the 30-Sensex and 50-Nifty components. The key beneficiaries from the Essar Oil deal are likely to be ICICI Bank, Standard Chartered Bank, SBI, PNB, IDBI.