IBN - Why ICICI Bank Stock Just Soared to All-Time Highs
Shares of ICICI Bank (NYSE: IBN) skyrocketed Monday morning to hit all-time highs of $22.14, mirroring its move in India: The India-based banking giant's stock also rallied double digits to hit all-time highs earlier in the day on India's National Stock Exchange, becoming the fifth-largest publicly listed stock in the nation based on market capitalization. As of 2:03 p.m. EDT, its shares were up 10.3%.
Record quarterly profits lifted investor enthusiasm in the bank stock as investors now see it even better poised to benefit from India's growing economy.
ICICI Bank released a solid set of second-quarter numbers for fiscal 2022 on Saturday. Notable numbers (all changed year over year) from the earnings report include:
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Why ICICI Bank Stock Just Soared to All-Time Highs