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ICICI Securities share price rises 7% post Q1 earnings

The company reported a 70% growth in its profit after tax (PAT) to Rs 193 crore during the April-June quarter as compared to Rs 114 crore in the year-ago period

twitter-logoBusinessToday.In | July 23, 2020 | Updated 16:38 IST
ICICI Securities share price rises 7% post Q1 earnings
ICICI Securities share price has risen 13% in one month and 33% since the beginning of the year

ICICI Securities shares were trading 7% higher on Thursday's early session after the company posted a healthy set of Q1 numbers.

The company reported a 70% growth in its profit after tax (PAT) to Rs 193 crore during the April-June quarter as compared to Rs 114 crore in the year-ago period.

Following the earnings update, shares of ICICI Securities opened with a gain of 2.93% and later gained 7.1% to the intraday high of Rs 567.1 against the last close of Rs 529.50. Later, the share closed 2.37% or Rs 12.55 higher at Rs 542.05 on BSE.

ICICI Securities share price has risen 13% in one month and 33% since the beginning of the year. Market capitalisation of the firm stood at Rs 17,543 crore as of today's session.

ICICI Securities is trading higher than 5, 20, 50, 100 and 200-day moving averages.  

Company's revenues rose 36% to Rs 546 crore in April-June 2020-21 from Rs 402 crore in the same period of the last year. During the quarter, equities and allied business rose by 62% to Rs 389 crore.

"We had an eventful quarter in which we saw increased market participation by all players -retail, HNIs and institutional, resulting in strong growth in our core equities, as well as wealth and investment banking business," managing director and CEO Vijay Chandok said.

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