ICICI Bank ends JV agreement with Fairfax Financial Holdings

ICICI financial institution announced the termination of the three way partnership settlement with Fairfax financial Holdings on Monday, the corporate stated in its BSE submitting.

ICICI financial institution announced the termination of the joint venture settlement with Fairfax monetary Holdings on Monday, the corporate mentioned in its BSE filing.

This termination agreement pertains to the approval of the sale of part of ICICI financial institution shareholding in ICICI Lombard basic insurance coverage company in an preliminary public offering proposed to be undertaken by using the corporate.

It additionally said that the agreement has regularly occurring provisions for the safety of events within the event of non-completion of the proposed initial public offering on or before a mutually agreed date.

ICICI financial institution was once buying and selling at Rs 291.35, up with the aid of Rs 1.forty or zero.48% as at 1012 hours on Tuesday, on the BSE. The stock had hit an intraday excessive of Rs 294 all the way through Tuesday's change.

inventory View:

ICICI financial institution Ltd is presently buying and selling at Rs 291.05, up by means of Rs 1.1 or zero.38% from its earlier closing of Rs 289.95 on the BSE.

The scrip opened at Rs 292.6 and has touched a excessive and low of Rs 294 and Rs 290.three respectively. thus far 3036032(NSE+BSE) shares have been traded on the counter. the present market cap of the company is Rs 185940.01 crore.

The BSE team 'A' stock of face value Rs 2 has touched a 52 week high of Rs 297.73 on 01-Jun-2017 and a 52 week low of Rs 215.41 on 04-Aug-2016. final one week excessive and low of the scrip stood at Rs 296 and Rs 283.5 respectively.

The promoters protecting within the company stood at zero % whereas establishments and Non-establishments held 66.18 % and 8.fifty three % respectively.

The stock is at present buying and selling above its 50 DMA.

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