ICICI Bank Surpasses $100 Billion Market Capitalization, Becoming the Sixth Indian Company to Join the League
Image Credits: The Economic Times
ICICI Bank becomes the second-largest Indian bank by market capitalization after HDFC Bank, hitting a record high in market capitalization crossing the $100 billion mark. On Tuesday, it became the sixth Indian company to cross a market cap of $100 billion as its stock rose by 2.48% to close at a record high of Rs 1199.05.
Before ICICI Bank, Reliance Industries, TCS, HDFC Bank, and Bharti Airtel had achieved the target of $100 billion. Infosys also crossed this milestone but has since exited the club. As per the market valuation, RIL is at the topmost position with a market cap of $236 billion, followed by TCS ($166 billion) and then HDFC which stands at over $156 billion.
In approximately 3.5 years, ICICI Bank crossed the market cap from $50 billion to $100 billion. In December 2020, ICICI Bank’s market capitalization crossed $50 billion, and within 10 months, it exceeded $75 billion in October 2021.
As per CNBC TV-18, Motilal Oswal Financial Services has given a ‘buy’ recommendation on ICICI Bank, raising the target price to ₹1,350 apiece. The brokerage firm expects the bank to achieve robust double-digit growth during 2024-25 (April-March).
During the trading session on Tuesday, ICICI Bank saw an increase of Rs 24,411.6 crore in its market value, elevating its market cap to $105.55 billion or Rs 8.81 lakh crore. All the current apex of the market situation says that ICICI Bank is in a good run, and its potential growth soon could double.
Team Profile
- Freelance Journalist
- Kumar Tushar Singh is a skilled content writer with a robust background in finance and a deep understanding of political affairs. Having served as a content writer intern at a notable NGO, Kumar has honed his ability to create insightful and impactful content. His financial expertise, combined with strong research skills, enables him to produce well-informed financial articles and reports. Kumar's dedication to excellence and his versatile writing capabilities make him a valuable asset in any content creation role.
Latest entries
News11 May 2025CBSE Class 10th and 12th Results Expected by Next Week
News10 April 2025US Visa Process Under Scrutiny as Indian Students Protest Unfair Deportations
News23 February 2025UGC NET 2024 Result Declared; Check Your Scores Now
News23 February 2025Bihar Class 10 Student Buys Gun with Stock Market Earnings, Kills One in Revenge Shooting
