ICICI Bank Looking to Raise Nearly Rs. 15,000 cr For Bolster Capital Base:
To begin with, on July 8th, the ICICI Bank looking to raise around Rs. 15,000 cr in core capital from the different routes. It was the 2nd largest private sector lender bank in India. Moreover, the lender joins looks, along with Axis Bank, Kotak Mahindra Bank, Federal Bank, and Yes Bank. Besides that, the company fresh capital or decided to do so soon.
As on March 31st, the bank’s total capital adequacy ratio stood at 16.11% and its core tier-1 ratio was 14.72%. Its independent net rose 26% to Rs. 1,221 cr in the March quarter. The bank standalone stood at Rs. 1,221 cr with a growth of 26%.
Stock Market Update:
Stock Market July 10th: On Friday, both Sensex and Nifty seem to trade in a bearish trend in the stock market. The Sensex stood traded loss with 36,594.33 levels and Nifty stood traded loss with 10,768.05 levels. The Sensex declined 143.36 points with a 0.39% loss. Besides, Nifty has declined 45.40 points with a 0.42% gain.
On the other hand, the number of confirmed or coronavirus cases in India reached 8,53,211 as of July 12th, and deaths reached 22,718.
In the border market, the S&P BSE Midcap index reported a bearish trend in the stock market on July 12th. It declined 96.64 points with a 0.72% loss and reached a 13,396.83 level. The S&P BSE Smallcap index declined 44.46 points with a 0.35% loss and reached a 12,803.78 level. However, the Nifty Bank declined 508.75 points with a 2.22% loss and reached a 22,398.45 level.