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kpst

9 months ago

in Response from ICICI Bank to my post ‘Fresh Rumours: ICICI Bank Collapse imminent? Not likely.’ on The MoneyVidya.com Blog
Hi Gautam,

Just a factual correction. As per BS article, 89% of ICICI UK's non-India investment book (estimated to be around $3.5 bn) has been rated A- or above by S&P. Agreed, A- is not that good a rating, especially in such times.

I do agree ICICI may have some more toxic waste to show up after its last announcement of Rs.1000 crore in Jan and March. The market knows it better than anybody else. That is evident from wat happened to stocks of each of these top investment banks of US before their fall. So, there are smart ppl in the market who at least have a broad idea of wat is coming if not the specific details.

However, being an Indian bank complying with stringent RBI regulation, the situation might not be as bad. Looking at the stock price, i feel buying in parts anywhere around 450-500 would be advisable. However, need to keep a close watch on the position.

Disclosure: I dont own any shares of ICICI Bank
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