ICICI Bank joins Rs 2 lakh crore m-cap club
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Banking stocks continue to rally on the bourses, with the market value of the ICICI Bank, crossing the Rs two lakh crore mark. The private sector lender has become the third bank and ninth company in current list of companies having m-cap of over Rs 200,000 crore.
ICICI Bank scrip up 1.9% to Rs 1,766 on BSE, taking its market value to Rs 2,04,395 crore at 1121 hours, the BSE data shows. The bank is at the ninth positions in overall market capitalization (m-cap) ranking.
The stock opened at Rs 1,740 and touched a record high of Rs 1,770 on BSE. In past two trading sessions, the stock rallied 4.4% from Rs 1,689 after the bank had fixed December 5 as the record date for its proposed stock split.
“The bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the bank”, ICICI Bank said in a statement.
ICICI Bank is now stands ahead of HDFC, the country's largest mortgage lender, which have m-cap of Rs 176,708 crore and a behind of the state-owned mining major Coal India (Rs 203,949 crore).
State Bank of India (SBI) is on top of the banking list, with a market-cap of Rs 229,907 crore, followed by HDFC Bank with an m-cap of Rs 226,041 crore.
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