Indian stock market made its bottom on 23rd March 2020 after a huge sell-off on Covid-19 fears. But, after bottoming out, Indian stocks rebounded strongly and delivered a whopping return to those investors who entered at lower levels. ICICI Bank shares are one such stock. After the Indian stock market made its bottom in March 2020, this Nifty Bank stock has surged from around Rs 287 to Rs 690 apiece levels, logging near 140 per cent rise in this period.

ICICI Bank share price history

ICICI Bank’s share price has remained under the consolidation phase for nearly 6 months as every rise in the Nifty Bank stock in this period has triggered profit booking. However, in the first 6 months of last year, ICICI Bank’s share price surged from around Rs 620 to Rs 850 levels. After the market made its bottom in 2020, the banking stock had ended at around Rs 287 on 3rd April 2020 and afterward it surged up to Rs 690 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 Rs 1 lakh in ICICI Bank shares buying one stock at Rs 287 at the beginning of FY21 and it had remained invested in ICICI Bank shares throughout this period, its Rs 1 lakh would have turned to Rs 2.40 lakh today.

ICICI Bank is the second most valuable Indian bank after HDFC Bank. It is amongst the top 10 most valuable Indian companies in terms of market cap. The current market capitalisation of ICICI Bank is Rs 4,79,878 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.