ICICI Bank gains on aiming to grow market share in Exim Trade transaction
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ICICI Bank is currently trading at Rs. 764.10, up by 12.25 points or 1.63% from its previous closing of Rs. 751.85 on the BSE.
The scrip opened at Rs. 751.70 and has touched a high and low of Rs. 767.75 and Rs. 746.75 respectively. So far 206569 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 859.70 on 25-Oct-2021 and a 52 week low of Rs. 465.95 on 26-Nov-2020.
Last one week high and low of the scrip stood at Rs. 769.80 and Rs. 731.20 respectively. The current market cap of the company is Rs. 530917.01 crore.
The Institutions and Non-Institutions held 90.05% and 9.95%, stake in the bank respectively.
ICICI Bank has improved its market share in Exim trade transactions this fiscal and aims to grow it further as the exports from the country rise. The bank's market share in the Exim trade increased to 7.5 percent of the overall flows in the September quarter, while it was 6 percent in FY21.
The country's exports are expected to gain faster traction going ahead on the back of demand and the investments happening under the production linked incentive (PLI) scheme of the government, which will help the bank grow its share further. The bank also launched 'Trade Emerge', a new platform aimed at the Exim players, which can also be used by entities that are not having an account with the lender.
ICICI Bank is a leading private sector bank in India.
