ICICI Bank surges 1%; board approves 6% stake sale in ICICI Prudential

The Board of Directors of ICICI Bank Limited has approved, subject to government and regulatory approval, the sale of 6.0% out of ICICI Bank Limited’s shareholding in ICICI Prudential Life Insurance Company Limited.

Shares of ICICI Bank Ltd were higher by 1% at Rs. 269.The Board of Directors of ICICI Bank Limited has approved, subject to government and regulatory approval, the sale of 6.0% out of ICICI Bank Limited’s shareholding in ICICI Prudential Life Insurance Company Limited (“the Company”), comprising the sale of 4.0% to Premji Invest & its affiliates and 2.0% to Compassvale Investments Pte Ltd, an indirectly wholly-owned subsidiary of the Singapore-based investment company, Temasek. 

ICICI Bank Ltd is currently trading at Rs. 269.55, up by Rs. 2.35 or 0.88% from its previous closing of Rs. 267.2 on the BSE.

The scrip opened at Rs. 271.2 and has touched a high and low of Rs. 272.25 and Rs. 269.2 respectively. So far 4940891(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 155187.75 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 393.3 on 28-Jan-2015 and a 52 week low of Rs. 248 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 268.25 and Rs. 259.45 respectively.

The stock is currently trading above its 200 DMA.