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Drumbeat: Ad Buzzaar
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Tuesday, October 6, 1998
ICICI: A good bet
K Seshadri
ICICI offers a good opportunity at the current depressed market. The scrip has fallen from the level of Rs 60 to Rs 49. On the previous day, the scrip had proved its buoyancy.It has gone down on Monday in line with the total market behaviour. There is also some bad news on the NPA front. But actually financial institutions (FIs) deciding to get a lien on the equity of the companies to whom they offer further loans is a good news. So ICICI would be actually protected. Again the yield on the ICICI stock is appreciable, considering that the dividend will be between 35-45 per cent. It qualifies as a good buy. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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