ICICI – About The Company
Being the second largest Indian bank after SBI and the largest private Bank of the country with widest network of branches and ATMs has significant ratio of the total banking field of the country.
About The Banking SectorThe stock has been fancied from long time in the market and nowadays after spread of negative news about its financial instability the stock has been under pressure and volatile on account of pressure in the whole banking sector , due to unexpected slowdown in the economy.
Following the foreign countries , we have seen a significant bad move in the Indian market regarding the percentage of defaulters in all types of loans repayment including car loan , home loan , education loan , personal loans , business loans. The list of credit card user defaulters has also shown significant rise.
Banks have now taken remarkable steps to check the problem and have totally controlled the frequency of loan sanctioning and allotment of credit cards. Consumers are finding difficulties in getting there loan sanctioned even after continuous fall in PLR’s .Deposit rates has been reduced to check excess deposit in bank, due to high rate of interest in Post office deposits the deposit will be shifted from banks thereby avoiding any chance of excess cash surlpus.
My View On the Stock
Stock has recently made a low of 250 and expected to be highly volatile in the upcoming time. The stock could be bought for trade view but investment at about 250 level is recommended for long term prospective.
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