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Banking stock gives 140 percent return after market bottom in March 2020

20 May , 2022   By : Kanchan Joshi


Banking stock gives 140 percent return after market bottom in March 2020

Indian stock market made its bottom on 23rd March 2020 after huge sell-off on Covid-19 fears. But, after bottoming out, Indian stocks rebounded strongly and delivered whopping return to those investors who entered at lower levels. ICICI Bank shares are one such stock. After Indian stock market made its bottom in March 2020, this Nifty Bank stock has surged from around Rs287 to Rs690 apiece levels, logging near 140 per cent rise in this period.


ICICI Bank share price history


ICICI Bank share price has remained under consolidation phase for near 6 months as every rise in the Nifty Bank stock in this period has triggered profit booking. However, in first 6 months of last year, ICICI Bank share price surged from around Rs620 to Rs850 levels. After the market made its bottom in 2020, the banking stock had ended at around Rs287 on 3rd April 2020 and afterwards it has surged up to Rs690 apiece levels, delivering more than the principal amount invested by the shareholders in this period of near two years.


Impact on investment


If an investor had invested Rs1 lakh in ICICI Bank shares buying one stock at Rs287 in the beginning of FY21 and it had remained invested in ICICI Bank share throughout this period, its Rs1 lakh would have turned to Rs2.40 lakh today.


ICICI Bank is second most valuable Indian bank after HDFC Bank. It is amongst the top 10 most valuable Indian companies in terms of market cap. Current market capital of ICICI Bank is Rs4,79,878 crore and its Thursday trade volume stands at 1.66 crore, which is higher than its last 20 days average trade volume of around 1.52 crore.


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