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Why ICICI Bank Stock Just Soared to All-Time Highs

Neha Chamaria, The Motley Fool
·2 min read
Why ICICI Bank Stock Just Soared to All-Time Highs

Shares of ICICI Bank (NYSE: IBN) skyrocketed Monday morning to hit all-time highs of $22.14, mirroring its move in India: The India-based banking giant's stock also rallied double digits to hit all-time highs earlier in the day on India's National Stock Exchange, becoming the fifth-largest publicly listed stock in the nation based on market capitalization. Record quarterly profits lifted investor enthusiasm in the bank stock as investors now see it even better poised to benefit from India's growing economy. ICICI Bank released a solid set of second-quarter numbers for fiscal 2022 on Saturday.

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