ICICI Bank touches a significant milestone of Rs 1000 per share today

ICICI Bank Ltd, the second largest private bank known for its diverse banking and financial services, including commercial banking and treasury operations, has achieved a noteworthy milestone today as its share price reaches Rs 1000 each.

ICICI Bank holds the position as the second largest private bank in terms of market capitalization, standing right behind the industry giant HDFC Bank.

The stock opened today at Rs 993.80, almost flat from its previous day’s closing price of Rs 995.45 on the BSE. Throughout the day, it remained flat until finally closing at the exact milestone of Rs 1000 on the BSE.

On the previous trading day that is on Thursday, the share price attempted to reach Rs 1000, coming close at Rs 998.15, but unfortunately fell short. However, today it successfully achieved the milestone that was previously unattained.

Upon analysing today’s share volumes, it can be observed that there has been a significant increase of more than 2.15 times in volumes on the BSE.

Let’s now analyse the journey of ICICI Bank’s share price, starting from Rs 100 and reaching the significant mark of Rs 1000.

It took approximately 18 years, equivalent to 6566 days, for ICICI Bank’s share price to surge from its base price of Rs 100 to reach Rs 1000. Achieving Rs 200 and doubling in value took a considerably shorter time of 2.2 years or 796 days.

However, it took nearly 7 years to reach Rs 300, the longest time to cover Rs 100 based on the data provided. On the other hand, the shortest time ever to cover Rs 100 was only 82 days, recorded in the year 2021.

In 2021, the stock exhibited notable growth, rising from Rs 600 in February to Rs 800 in October. By September 2022, it reached Rs 900 within a mere 318 days, indicating rapid progress. Finally, it reached a significant milestone of Rs 1000 today.

Regarding its weightage in the Nifty50, ICICI Bank holds 7.74%, making it the third most influential stock after Reliance Industries with 10.21% and HDFC Bank with 8.9%. Whereas, in the Nifty Bank Index, HDFC Bank leads with 27.74% weightage, while ICICI Bank follows closely with 24.13%, positioning itself as the second major bank in terms of weightage.

Upon examining the stock returns, it is evident that the shares of ICICI Bank have performed well over the past year, generating a return of 27%. However, the performance over the last three years has been even more remarkable, with an impressive return of 163%.

Furthermore, ICICI Bank has consistently outperformed the S&P BSE Bankex Index in both the time fame.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.